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Tackling corruption: Banks to use algorithm to decide your loan application


Saddled with rising bad loans, the public sector banks are going to use technology in a big way to reduce the discretion of bank officers and eliminate the scope for curruption in lending, said Sunil Mehta, CMD of Punjab National Bank.

Addressing a seminar on the future of banking sector organised by EGROW foundation in New Delhi, Mehta said the country has made immense progress in terms of use of latest technologies in payment services and the next level will be to leverage these technologies in the delivery credit services.

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