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Start-ups now tapping pocket money loans up to Rs 30,000 for students

In the past 3-4 years, several start-ups have begun offering instant micro loans for buying air tickets and food online in a segment largely untouched by formal banking and shadow banking sectors.

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Namrata Acharya Kolkata
Start-ups are tapping the some of the youngest loan seekers in the country—college students and young graduates looking for pocket money. The segment largely remained out of the purview of both formal banking and shadow banking sector.  

In the last three to four years, several start-ups have started offering instant micro loans ranging from Rs 200 to Rs 10,000, and sometimes even more, to students and recent graduates, who don’t have any stable flow