Paperless home loan facility will be available soon, notification issued by IT Ministry.

Banks are also using technology that collects data including social media and sends it to the bank. This will help the bank to build a credit profile of the customers.
Soon, you can get rid of a lot of paperwork for home loans. Banks are working on a plan to provide online loans for this. They will approve the loan keeping all your data and credit related profile on record. This will be completely under a demat process.
Banks are also using technology that collects data including social media and sends it to the bank. This will help the bank to build a credit profile of the customers. The Ministry of Electronics and Information Technology has recently pushed for digitizing many new types of contracts. Debajyoti Ray Chowdhury, MD and CEO of National e-Governance Services said at the event of Indian Banks Association that MeitY has issued a notification. In this, approval has been given to digitize home loan documents.
According to Sanjeev Chadha, MD, Bank of Baroda, in the last three years the bank has managed to grow its business by 34-40% while the branch network has decreased by 15%. V Vaidyanathan, MD, IDFC First Bank, said that in digital banking banking, small borrowers have to pay a higher price due to the cost of operations.