Page 6 - Digital Lending

Fintech leading India's banking revolution but it's hampered by old rules

The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.

Asset quality pressures on micro-lending ease in Q2Fy22: CRIF High Mark

The gross loan portfolio in microfinance rose by 2.1 per cent growth at Rs 2.49 trillion at end of September 21.

LenDenClub raises $10 mn in funding round, plans $1 bn loan book by FY23

Founded in 2016, LenDenClub uses technology to bring borrowers and investors on its platform.

Exercise due diligence, avoid digital lenders that make borrowing too easy

The absence of due process-KYC, issuance of sanction letter and loan agreement-should act as red flags

RBI panel recommendations will promote growth of digi-lending: Industry

The recommendations made by the RBI working group on digital lending, including lending through online platforms and mobile apps, will promote orderly growth of sector, industry players said. In a comprehensive report, the Working Group constituted by the RBI has made several recommendations, including a separate legislation to prevent illegal digital lending activities, subjecting digital lending apps to a verification process by a nodal agency and establishing a self-regulatory organisation (SRO) covering the participants in the digital lending ecosystem. Emkay Global Financial Services in a note said the proposals appear to be largely constructive for the digital lending space and are on expected lines. That said, the introduction of regulations may moderate the growth rate of digi-loans, which have seen strong growth in a short term in countries like China and India (P2P), it said. "However, the regulations would facilitate orderly growth in the long run, similar to MFIs post .

RBI group's suggestions will boost digital lending, say experts

Industry players say the new norms will enhance how lending apps and platforms ensure customer safety and move away from unethical conduct

RBI working group warns on digital lending by big tech players

The working group has recommended the formation of a nodal agency & SRO for digital lending apps

RBI report urges new nodal agency, SRO, law to ban illegal digital lending

Says balance sheet lending through DLAs should be restricted to entities regulated by RBI or entities registered under any other law for specifically undertaking lending business

Buy now, pay later set to surge over ten-fold in India within four years

Redseer estimates India's BNPL market will rocket to $45-50 billion by 2026 from $3-3.5 billion now

Atleast 50% of retail, MSME loans to move to digital lending: Union Bank MD

Close to 50 per cent of retail and MSME loans offered by banks will shift to digital lending platforms over next two to three years, Rajkiran Rai G said on Thursday.

Bank of Maharashtra launches digital lending platform for home, car loans

State-owned Bank of Maharashtra on Friday said it has launched a digital lending platform for its home and car loan customers.

PayU Finance elevates Piyush Gupta as company's new chief data scientist

In his new role, Gupta will lead the data science and Artificial Intelligence teams for PayU Finance to drive financial inclusion for the under-served and under-banked customers

Govt to focus on digitisation 98,000 agri cooperatives for digital lending

The government will focus on digitisation and modernisation of about 98,000 PACs to ensure digital lending, said Devendra Kumar Singh, Secretary, Ministry of Cooperation, on Saturday.

Facebook, Xiaomi want a slice of India's $1 trillion digital loan market

India's digital payments market is drawing the attention of some of techs biggest names after online transactions surged during the pandemic.

Stick to regulated entities for short-term personal loans: Analysts

Avoid online platforms that charge exorbitant interest rates

Should you ditch your credit card and consider 'buy now, pay later'?

Several players, such as LazyPay, Capital Float, and ZestMoney, to name a few, offer it

M&M Finance eyes Rs 20,000-crore small-ticket loans via e-platform

The company expects to build a strong balance sheet in digital business unit which will not just add to the growth of M&M Finance but also help to retain existing customers

BharatPe plans to lend Rs 7,000 cr, become 'bank for all' small businesses

Sequoia-backed firm, which is set to become the next unicorn, provides payments technology and digital lending to traditional businesses.

Digital transformation: E-lenders rely on tech, not recovery agents

The moratorium, announced in the wake of the pandemic, has put several digital lenders out of business, say people familiar with the matter

Small loans, big stakes: Why MSMEs are banking on fintech lenders

Speed and flexibility to cater to a wider segment of small borrowers are tilting market in their favour