Mortgage lenders like banks should look at credit rating of a borrower as an opinion by a credit rating agency and not a gospel truth, states an Assocham and Pricewaterhouse Coopers (PwC) study.
PwC survey also says multinational banks are looking to invest in Indian fintech start-ups Investment in Indian financial technology (fintech) companies crossed the $1 billion mark in 2015 to reach $1.2 billion at the end of the year
In order to fund start-ups in the financial technology (fintech) space, country’s largest lender SBI has set up a Rs 200 crore fund.
The Reserve Bank of India is in the process of setting up a multi-disciplinary committee to study the FinTech business in India, its executive director N.S. Vishwanathan said.