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GST Will Allow Loans on the Basis of Data, Not Collateral: Nandan Nilekani
February 23, 2018
Tech leader Nandan Nilekani said that the Goods and Service Tax (GST) platform will allow the business owners and consumers to get loans on the basis of their credit payment history instead of collateral.
Nilekani, who was present at the All India Management Association’s Foundation Day, said that when someone files their GST return, they do so at the invoice level. Thus, they can ask the GST Network to share their account data which they can share with a bank to get a loan.
