π€ RBI Governor sees AI's potential in lending
The RBI Governor, Sanjay Malhotra, stated that Artificial Intelligence has the potential to revolutionize the lending sector. He highlighted that AI could bring about a transformation comparable to how UPI changed the payment landscape. Specifically, the Governor mentioned that AI can assist in making credit assessment faster and more accurate. This shift is expected to significantly impact how financial institutions operate across India. Looking ahead, this technology is set to redefine the norms of lending practices nationwide. π€