India’s panel on banking reforms has an unenviable task: ensuring that our banks are fit for the future
Using big data and AI models, upstarts may gain an edge over banks on assessing risks and pricing credit. That too, without any of the baggage that banks in general and PSBs in particular carry, such as Jan Dhan accounts that require no minimum balance. Banks, in turn, have entered fields like insurance, asset management, brokerage and so on, while getting tech upgrades; they also have fintech plays of their own via subsidiaries, stake-buys and tie-ups.
