NBFCs must use AI, strengthen underwriting as credit growth accelerates: RBI Deputy Governor Murmu

Reserve Bank of India Deputy Governor S C Murmu urged NBFCs to use AI and machine learning tools. He emphasized stronger risk management and rigorous stress testing for lenders. NBFC credit growth continues to rise, impacting the overall financial landscape. Technology adoption is transforming credit assessment and management practices. Customer protection and robust governance remain key priorities for the sector.