The Central Bank of India (CBI), a public sector giant with a rich heritage, is embracing technology to redefine its role in the financial lives of millions. Through its Digital Lending Platform (DLP), part of the Cent Neo initiative, CBI is revolutionising access to credit for underserved populations, fostering inclusion and convenience.

India’s vast rural and urban landscapes have long faced barriers to formal credit, including cumbersome paperwork and collateral requirements. Recognising C haitanya Godavari Grameena Bank (CGGB), is transforming rural banking in Andhra Pradesh by merging financial inclusion with advanced technology. Focused on agriculture and priority sectors, CGGB channels 90% of its advances toward marginalised communities, benefiting over 450,000 people. Its innovative schemes, such as the Rythanna Nestham Loan and gold loans, empower farmers and women led SHGs, fostering economic independence and rural upliftment. Responding to the Prime this challenge, CBI launched the DLP in early 2024. Powered by AI, machine learning and digital KYC, the platform delivers a seamless loan experience, offering products like Digital Kisan Credit Card (KCC) loans, Digital MUDRA loans and pre-approved personal loans. Farmers can now secure funds within 40 minutes, while entrepreneurs benefit from swift approvals based on AI driven income assessments.

Transformative stories abound. In rural Maharashtra, Meera, a farmer’s wife, secured a KCC loan via her smartphone, empowering her family to expand their agricultural activities. Similarly, Arjun, an entrepreneur in a tier-3 town, used a Digital MUDRA loan to grow his business, creating jobs and supporting his community. The DLP’s success lies in its robust technological framework, omni-channel accessibility and customer-centric approach. By integrating fraud checks, real-time assessments and e-signatures, it ensures security and efficiency. Community outreach and training programmes further bridge the urban rural divide.