Scam tainted PNB turns to AI to check loan frauds

Punjab National Bank has invited bids from interested parties for an Artificial Intelligence based early warning system to keep a close watch on borrowers’ activities. The solution will crawl the web – news articles and social media interactions — to alert the bank which has already burnt its fingers in the Nirav Modi scam. The capabilities sought by PNB, having bad loans of over ₹1 tril are AI, web crawling, and optical character recognition for triggering the early warning signal.

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