Banks in India have disbursed over Rs 1,400 crore ($190 million) in loans through the 'frictionless credit' platform since its launch in August, according to a senior Reserve Bank of India official. The platform allows lenders to quickly disburse retail loans, such as those to agriculturists, by aggregating borrower information from multiple sources. The official also mentioned that around 20,000 central bank digital currency transactions are taking place daily. The RBI is piloting the scheme and expects it to have great prospects in the future, with reduced operational costs for lenders.
