Indian financial institutions must guard against relying on algorithms and artificial intelligence to assess customers for loans, central bank Governor Shaktikanta Das said. Model based, algorithm ...

Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned banks and non-banking finance companies (NBFCs) on Thursday about the pitfalls of assessing customers for loans based on algorithms and ...

Model based, algorithm lending can “lead to a potential crisis,” Das said in a speech at an annual banking event hosted by the Mint newspaper in Mumbai on Thursday. Banks and non-bank financial ...