Page 2 - Digital Lending

Poonawalla Fincorp's AUM rises 57% to around Rs 21,850 cr in Q3FY24

Sequentially, Poonawalla Fincorp's AUM expanded by 8 per cent over in the second quarter ended September 2023

Compliance costs may spur fintech sector consolidation: Industry experts

The minimum cost of compliance has nearly doubled over the past year, say companies

Only 18% digital loan borrowers understand data privacy rules: Study

60% of them are worried about how personal data is collected and used by lending apps

Loan disbursements by FACE-fintech companies jump 43% in Q2: Report

These companies disbursed around 24.4 million loans in Q2 FY24, marking a 39 per cent Y-o-Y growth in volume from 17.5 million loans in Q2 FY23

Peer-to-peer (P2P) lending: What is it, and who regulates it in India?

Peer-to-peer (P2P) lending is the practice of lending money to individuals or businesses through online services that match lenders with borrowers

Indian lenders' tech challenges frustrate efforts to grab market share

Bajaj Finance was directed on Wednesday to stop offering credit via two products that failed to comply with digital lending rules

RBI's ban on Bajaj Finance's eCOM and Insta EMI Card: All you need to know

Bajaj Finance said it is temporarily suspending the sanction and disbursal of new loans under the two products

US consumer watchdog proposes rules for Big Tech payments, digital wallets

The proposal marks a long-anticipated and ambitious move by CFPB Director Rohit Chopra to assert the agency's full authority over Big Tech

Lenders prefer salaried individuals with steady income for personal loans

While more than 25% of salaried borrowers have an excellent credit score of 770 and above, only 14% of self-employed consumers have such strong credit score profiles

Fintech lending rises over 31% to Rs 29,875 crore, says FACE report

9 companies accounted for 81% of total disbursement made by 36 companies that are members of Fintech Association for Consumer Empowerment

Digital and off the ground: The rise of India's new debt collectors

Companies that don't have to be on the field to nudge people to return the money they owe to lenders

Govt plans to hire agency to estimate actual size of digital economy

The government is planning to hire an agency to measure the actual size of the digital economy which is estimated to be around USD 1 trillion by 2025, according to an official document. The selected agency will be roped in for a period of nine months for the assignment. The agency will need to submit the draft report on estimation of the size of the digital economy and projections from the current financial year till 2029-30 to Ministry of Electronics and IT (MeitY) within 32 weeks from the date of selection. "The RFP aims to invite proposal in the area of estimation and measurement of India's digital economy including formulation of measurement framework, capturing data and identifying digital interventions," the document said. The report will also look into state rankings and their share in the digital economy, along with the impact of e-commerce and emerging technology on such economy. "Collective action is required in a team India spirit with collaboration between government a

mPokket aims to disburse Rs 8,000 cr in 2023, target 3 million borrowers

Digital lending platform mPokket on Thursday said it targets to disburse Rs 8,000 crore, targeting 30 lakh borrowers in 2023, and also double its customer base in the upcoming years. In 2022 alone, mPokket disbursed Rs 3,500 crore and has in all disbursed Rs 8,000 crore since its inception, said mPokket, founded by Gaurav Jalan in 2016. With a customer base of over 3.5 million approved users overall, the company said it offers loans ranging from Rs 500 to Rs 45,000, with a repayment period of 1-3 months, making it accessible to a wide range of consumers. In the current financial year, the platform has registered 1.6 million new users. "In 2023, mPokket aims to disburse Rs 8,000 crore, targeting 30 lakh borrowers and plans to double its customer base in the upcoming years," said Jalan, CEO and Founder of mPokket. He further said that the average age of mPokket's consumers is 22 years. The company has a total of 2,700 employees. Jalan said mPokket's business model is similar to cred

FLDG norms may dampen biz volume in segments with higher 5% limit: CRISIL

However, there won't be an overall impact on reported profits as the FLDG amount received will now be reckoned as a part of income

Digital lenders' disbursement grows 2.5 times to Rs 92,848 crore in FY23

Growth in disbursement value improved though the pace slowed in the second half of FY23, says industry group

Manappuram Finance launches digital lending app to widen reach

The platform is targeted at customers living in smaller cities and towns of India

Fasten your seat belts: The switch to Fintech 2.0 has just begun

A shakeout among fintech firms is very likely, as the stress on governance and compliance is set to go up many notches

Loan disbursals by digital lenders double in Q3 amid new RBI norms: Report

Data for quarter shows customers' trust and preference for fintech lending, says association

Bad guys may re-enter digital lending in India despite govt ban: Experts

They say the rogue apps can come back using some other name or some forged documents

Digital lenders increasing spending on data security tech: Report

Threat to data privacy and cybercrimes are among risks for digital lending: Survey