Could blockchain resolve India’s sky-high debt problems?
The India Banks Association wants to create a lenders’ consortium to monitor their own debt and ensure borrowers are adhering to pre-agreed rules and patterns.
An association representing India-based lenders’ interest has proposed that the country’s banks join forces and utilise blockchain technology in a bid to get a better handle on the debt they are issuing to corporate customers. If successful, it could bring down the high levels of corporate debt defaults rife in the country, an IT expert at EY has claimed.
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