Wednesday, 18 December, 2024

Scam tainted PNB turns to AI to check loan frauds

<p>Punjab National Bank has invited bids from interested parties for an AI-based early warning system to keep a close watch on borrowers&#39; 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.<br /> &nbsp;</p>