AI boosts accessibility and efficiency in India's banking and finance
Technology
AI is making banking and finance in India a lot more accessible and efficient.
For example, Niwas Housing Finance now lets people like dairy farmers in semiurban areas apply for loans in their own language using voice-to-text and with way less paperwork.
Basically, AI is starting to handle the complicated stuff behind the scenes, from processing documents to supporting underwriting.
UPI 23.65B transactions, lenders deploy AI
Digital payments are booming: UPI handled 23.65 billion transactions last month.
Companies like Godrej Capital are using AI agents to speed up loan processing so staff can focus on what matters most.
Mirae Asset Investment Managers has built a dedicated AI department.
With all this tech, having reliable data and strong safeguards is becoming more important than ever.