{"id":28676,"date":"2018-10-24T14:18:36","date_gmt":"2018-10-24T08:48:36","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=28676"},"modified":"2018-10-24T14:18:36","modified_gmt":"2018-10-24T08:48:36","slug":"govt-testing-big-data-system-to-aid-banks-assess-credit-risks","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/govt-testing-big-data-system-to-aid-banks-assess-credit-risks\/","title":{"rendered":"Govt. testing \u2018big data\u2019 system to aid banks assess credit risks"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/govt-testing-big-data-system-to-aid-banks-assess-credit-risks\/article24249073.ece\"><span style=\"font-weight: 400;\">Govt. testing \u2018big data\u2019 system to aid banks assess credit risks<\/span><\/a><\/p>\n<p><b>News:<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The ministry of Electronics and Information technology is testing the credit rating model which will help banks assess credit risks<\/span><\/li>\n<\/ol>\n<p><b>Important Facts:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">2. The Ministry of Electronics and IT sponsored project include Reserve Bank of India (RBI), Bangalore-based IT firm Processware System and two cooperative banks as partners<\/span><\/p>\n<p><span style=\"font-weight: 400;\">3. A statistical and machine learning algorithmic model has been developed to predict the probability of default<\/span><\/p>\n<p><span style=\"font-weight: 400;\">4. A model has been developed to predict different types of frauds in banking sector based on RBI guidelines<\/span><\/p>\n<p><span style=\"font-weight: 400;\">5. Data from various banks have been used for validating the models<\/span><\/p>\n<p><span style=\"font-weight: 400;\">6. Further, web-enabled software has been developed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">7. Benefits:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Help tackle the issue of rising non-performing assets (NPA)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It will enable banks to quantify risks associated with retail loans- for example, gold loans, personal loans and vehicle loans.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The web-enabled software will assist the banks to adopt the models for credit rating, non-performing assets and fraud<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Govt. testing \u2018big data\u2019 system to aid banks assess credit risks News: The ministry of Electronics and Information technology is testing the credit rating model which will help banks assess credit risks Important Facts: 2. The Ministry of Electronics and IT sponsored project include Reserve Bank of India (RBI), Bangalore-based IT firm Processware System and&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/govt-testing-big-data-system-to-aid-banks-assess-credit-risks\/\">Continue reading <span class=\"screen-reader-text\">Govt. testing \u2018big data\u2019 system to aid banks assess credit risks<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-28676","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704908453},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=28676"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28676\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=28676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=28676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=28676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}