Manicule co-founder Shreyans Jain says Indian banks hinder startup growth
Shreyans Jain, co-founder of Y Combinator-backed Manicule, called out Indian banks for being overly cautious with loans.
He pointed out that while US banks are open to lending big amounts to people with solid credit, even if their history is short, Indian banks demand tons of paperwork and still often say no.
Jain feels this makes it tough for startups in India to grow into global giants.
Jain's comments draw Anthropic funding counterpoint
Jain argued that all this red tape and risk aversion is stopping India from building world-changing companies like Anthropic or Foxconn.
His comments sparked debate online, with some saying it's time for banking reforms, while others noted that Anthropic wasn't built on credit or bank loans, it raised billions in venture capital and corporate equity investments.