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Bank of Baroda organises Industry level symposium
February 23, 2023
The topics covered during the symposium included Fintech – Legal Aspects & its Impact; Revolution in Digital Lending & its Impact on Banking; Digital Documents, its Execution & e-Bank Guarantees; Automation of the Loan Process including Co-lending Arrangements – Business and Legal Challenges and Cyber Security & Preventive Measures.
Fintech Legal Aspects & its impact: The legal framework pertaining to digital lending, the credibility of digital /electronic signatures as well as the need to establish a viable robust regime for E-stamping were key issues discussed. The speakers also discussed the importance of seamless documentation in the banking industry, the role of machine learning in taking instant credit decisions and automated grievance redressal.
Revolution in Digital Lending and its impact on Banking: The panel explained the E-stamping process and the need for online notarization. Given the centralised nature of digital lending, the place of paying stamp duty can become a contentious issue.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/