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The Indian government has allowed the GST Network to share data about GST-registered businesses with the Reserve Bank's 'Public Tech Platform for Frictionless Credit' based on their consent. This move aims to facilitate quicker loan processing for entities by providing lenders with shared Goods and Services Tax (GST)-related information.
The investors have red-flagged the acquisition of Aakash Educational Services Ltd (AESL) saying Byju's agreed to “onerous” and “prejudicial” loan terms with Davidson Kempner (DK), among other matters.
The move will help entities get loans faster on the basis of shared Goods and Services Tax (GST)-related information
While disbursal of consumer loans through a digital interface has become common, farmers and people who run small businesses still need to queue up at their local bank branches and the land records department for days to access agriculture loans and take Kisan credit cards.
The Indian government has permitted the GST Network to share data about GST-registered businesses with the Reserve Bank of India’s ‘Public Tech Platform for Frictionless Credit’