Shreyans Jain criticizes Indian banks' caution versus US lenders
Business
Shreyans Jain, co-founder of Y Combinator-backed Manicule, called out Indian banks for being too cautious with loans.
He pointed out that US banks can give out large loans to people with good scores and little history, while Indian banks demand extensive paperwork, even for much smaller loans, and still say no.
Jain: easy credit crucial for giants
Jain warned that this strict approach could stop India from building the next global giants.
While some argued on social media that big tech firms grew on venture capital, Jain replied that easy credit is just as important.
Without better access to loans, he believes India might miss out on creating world-class companies like Foxconn or Anthropic.