LOAN APPLICATION AND AUTOMATED LOAN APPRAISAL THROUGH BANKING APP !!!

"AI ROBOT: 'Hi, hope you are 

doing well, I am a 'Banking BOT'; 

to know about our banking products, 

type '*IndBank' followed by a DOT. 

BANK CUSTOMER: 'I have seen 

all the products, I want to avail 

a loan for doing AGRICULTURE; 

I don't want to borrow money 

from any village money lender 

as they are like any VULTURE.'

AI ROBOT: 'Just upload the soft copy 

of your Voter ID, Aadhaar ID and PAN; 

good news, you have a good credit score, 

upload your digital parcha, let me just SCAN.'

BANK CUSTOMER: 'Wow, my entire loan 

document is ready within 2 minutes, you are 

asking me to digitally sign on the mobile SCREEN;  

after signing it, I have received an email 

of the digitally signed loan documents, 

a new type of banking I have ever SEEN.' 

AI ROBOT: 'The loan process is not 

over yet, visit the allocated branch where 

they will take the printout of your automated 

loan appraisal and loan APPLICATION; 

your loan account will be opened 

after signing DPN, Ack of Debt, 

Debt Continuity, Ack of Sanction 

and loan biometric AUTHENTICATION. 

A guarantor also has to visit the 

branch with his/her KYC DOCUMENT; 

if his/her credit score is not good, then you 

have to make another guarantor ARRANGEMENT. 

BM and ABM/AFO will sign your 

loan documents and upload it to 

get the DAMC approval LETTER; 

after the approval, your KCC loan is disbursed, 

if you repay the interest every month, then for 

you, it will be beneficial and BETTER.'"- Arindam Sain