Bank of Baroda is building a digital interface for faster and more efficient disbursement of retail loans. The bank said it is building a completely digital platform where the customer will get a push message which they can accept, and through some validation they can get a loan. Mostly these loans will be personal loans, auto loans or home loans. In home loan it will be in principle approval because of legal and value-addition processes that have to be followed. Personal loans will be completely digital and for auto loan disbursement, there will be one or two paper-based approvals.
