Just like what UPI did with payments,” Nilekani said. Now, credit protocol (OCEN) will democratise the process for millions of small businesses. For our economy to revive we need to fund small businesses,” Nilekani said at the virtual event. “Small businesses don’t get loans because there is no data around them and the AA helps in data asymmetry. “We need to do something about feature phone payments so we can expand digital payments to everyone,” added Nilekani.

Source: Hindustan Times July 22, 2020 17:58 UTC