state gov APPSC (ఆంధ్రప్రదేశ్) Group 2 (Pre + Mains) Mock Test 2023 Current Affairs Business and Economy
Which of the following statements is true regarding the Reserve Bank of India's (RBI) initiative 'Public Tech Platform for Frictionless Credit'?
1. The platform is primarily a step to reduce interest income for banks by minimizing their exposure risk.
2. The platform aims to gather all necessary data for credit appraisal in one place to facilitate quicker, hassle-free lending and reduce operational costs.
Which of the statements given above is/are correct?
1
Only 1
2
Only 2
3
Both 1 and 2
4
Neither 1 nor 2