Priority lending tag to provide new credit lifeline for young startups

Say banks will have to understand ecosystem's high-growth business model

Samreen Ahmad & Sai Ishwar | Bengaluru/Mumbai
Last Updated at August 8, 2020 00:16 IST

banks, bank rate cuts, lending rates, deposits, savings, investment, schemes, shares, insurance

There have been instances in the past when start-up founders have had to even mortgage their houses to avail loans from banks

Ever since the Covid-19 pandemic struck the country, Prakash Kumar, an III-T graduate and founder of start-up KhaaliJeb, has been doing the rounds of offices of venture capital (VC) firms to raise funds for his bootstrapped banking app for the youth. He’s been turned down by 10 VCs so far.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.