Based on the provided information, answer the following question: (ii) Are all types of financial facilities of the Banks are covered under Digital Lending ?

CS Professional · Banking - Law & Practice · PYQS · June 2024
Based on the provided information, answer the following question: (ii) Are all types of financial facilities of the Banks are covered under Digital Lending ?

Answer & Explanation:

The parts of a lending transaction that need to be digital or contactless in order to be called digital lending is subjective but must involve, at least to a significant extent, the use of digital technologies as part of lending processes involving customer procurement, credit assessment and loan approval, loan disbursement, loan repayment, and customer service., Financial Facilities typically covered under digital lending are Personal Loans, Consumer Loans, Small Business Loans, Credit Lines, Peer-to-Peer (P2P) Lending, Payday Loans, Education Loans.

Topics: Financial Technology

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