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Business Standard

Priority lending tag to provide new credit lifeline for young startups

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

Topics
Banks | Start-ups | Coronavirus

Samreen Ahmad & Sai Ishwar  |  Bengaluru/Mumbai 



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 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.

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First Published: Fri, August 07 2020. 17:48 IST

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