Q.3 Borrowers in the country have been underserved because of the preference for collateralized loans. How the account aggregator framework announced by the RBI seeks to deal with the problems faced by borrowers and lenders? (10 Marks)

Mentor’s comment- https://www.livemint.com/opinion/online-views/account-aggregators-could-help-the-country-democratize-credit-11629650315764.html In the intro, mention the preference for collateralized loans in India. In the body, mention the challenges faced by lenders in determining the creditworthiness of the customers and issues with the cash-flow based methods. Next, mention the important role account aggregators could play in this regard by offering to deal with the … Continue reading Q.3 Borrowers in the country have been underserved because of the preference for collateralized loans. How the account aggregator framework announced by the RBI seeks to deal with the problems faced by borrowers and lenders? (10 Marks)