RBI action on unsecured lending warranted: Jio Financial chairman Kamath

"I think there is some sort of abuse of technology that is happening (by loan apps) and as a result, there is laxity in the whole process of lending"

Despite some concerns in the banking sector, K V Kamath, chairman of Jio Financial Services, said the industry now was healthier than ever before and the economy was also in good shape, considering corporate earnings. In a fireside chat with Tamal Bandyopadhyay, consulting editor, Business Standard, Kamath also discussed challenges from increased reliance on technology, data, artificial intelligence (AI) and machine learning (ML). Edited excerpts:

 

As the BRICS bank chairman, with your experience, how do you assess the impact of China’s second massive stimulus package and the ongoing developments in the US on the Indian economy, especially from a market