Lenders to focus on credit vetting of Jan Dhan accounts
consumption loans to Jan Dhan account holders, people familiar with the development said.
While there has been no formal government directive in this regard, banks are being cautious, they said.
«We are partnering with fintechs on various models of credit assessment including social media mapping, which gives an indication of location besides insights into other spending activities used to analyse customer risk behaviours,» said a bank executive.
The average balance in more than 531 million PMJDY accounts is just ₹4,352, according to the latest data. Around 67% of the accounts have been opened in rural or semi-urban areas, and 55% of the accounts belong to women.
Public sector banks are focusing on productive lending in this segment, like Mudra, and startup loans to promote entrepreneurship and job creation, said two senior bank executives.
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