US-based founder slams Indian banks' bureaucracy, says 'India is credit-starved'

An Indian entrepreneur living in US said American banks just "need decent credit score and a short credit history" to grant loan. "In India you need great credit score, long credit history...bank statements...and list is possibly infinite…and then...[loan is] denied," he said. "A credit starved country with zero banking risk tolerance isn’t going anywhere on the world stage," he added.