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The government has directed public sector banks to create a unified digital portal to streamline startup loan applications, sanctions, and information-sharing. Expected by October, the proposed startup hub portal will feature a single application form accessible to all PSBs.
The Reserve Bank of India has instructed finance companies to exclude default loss guarantees (DLGs) from fintech firms when provisioning for stressed loans, impacting digital lending service providers. NBFCs must now make full provisions on these loans, diminishing their appeal for new business.
To ensure artificial intelligence (AI) is developed and used in an ethical, transparent and responsible…