Which of the following statements is/are correct?
A. The Reserve Bank of India (RBI) is piloting a "Frictionless Credit Initiative" that has resulted in a substantial 50% reduction in customer acquisition costs for lenders.
B. On the other hand, borrowers save 5% of the loan amount.
C. The pilot started with an all-digital KCC (Kisan credit card) lending, developed by the RBI Innovation Hub on the public tech platform, in Tamil Nadu (TN) and Madhya Pradesh (MP).
1
Only A
2
Only C
3
Both A and B
4
Both B and C
5
None of these