# US founder calls India ‘credit-starved’ as banks demand hefty loan paperwork 2026-08-13T00:43:26+00:00 | World & Diplomacy | Indian Opinion Desk Corroboration: 1 independent outlet Shreyans Jain, co-founder of Y Combinator-backed Manicule, has criticised Indian banks for being overly cautious with loans, calling India a 'credit-starved country'. In a social media post, he said US banks grant large loans with just a decent credit score and short history, while Indian lenders demand a long checklist including ITR, bank statements, CA-approved net worth, and business balance sheets. He argued borrowers can still be rejected for loans worth three times their income, limiting India's global competitiveness. The post triggered mixed reactions. One user said he got a $2 million credit line in the US without an SSN, while another defended Indian banks, noting high NPAs if loans were easier. A third said tech giants like Google and Amazon were built on venture capital, not bank loans. ## Coverage - livemint.com Tags: credit system, entrepreneurship, Indian banks, loan norms, RBI, US vs India Canonical: https://indianopinion.org/us-founder-calls-india-credit-starved-as-banks-demand-hefty-loan-paperwork/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/us-founder-calls-india-credit-starved-as-banks-demand-hefty-loan-paperwork/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.