Page 2 - Digital Lending

Thailand to roll out disputed $13.8 bn plan in digital money to citizens

Thailand's prime minister said on Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April the widely criticised ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about USD 275) to 50 million citizens in digital money to spend at local businesses. Prime Minister Srettha Thavisin posted on the social platform X, saying the registration will begin on August 1 and that he has given instructions to ensure the smooth implementation of the program. The Digital Wallet was a major campaign promise of the ruling Srettha's Pheu Thai party ahead of last year's general election. The government says that this scheme will cause an economic tornado, and Srettha has said the stimulus and subsequent consumption are expected to boost gross domestic product growth by 1.2 to 1.6 percentage points. However,

From smartphones to smart loans: Gen Z, millennials boost digital lending

The share of digital loans has increased from 1.8% of total retail loans in FY22 to around 2.5% in FY24, revealed a report by Redseer Strategy Consultants

Sebi puts SK Finance's Rs 2,200 cr IPO in abeyance, no reasons disclosed

Jaipur-based lender had filed its preliminary papers with the capital markets regulator in May this year

Fintechs lead small-ticket loans' volume with 77% market share: Report

Fintechs accounted for 50% of the loan volumes disbursed with a ticket size less than Rs 1,00,000 in FY18

MCA probing some loan apps over allegations of violating Company Law

Many gullible borrowers are often defrauded of their money by fraudulent loan apps

Take more steps to curb unauthorised lending apps: FM to regulators

Finance Minister Nirmala Sitharaman on Wednesday asked financial sector regulators, including the Reserve Bank of India (RBI), to take further measures to check spread of unauthorised lending through online apps. Addressing the 28th meeting of the Financial Stability and Development Council (FSDC) here, Sitharaman also asked regulators to maintain constant vigil and be proactive towards detecting emerging financial stability risks, given the domestic and global macro-financial situation. The FSDC deliberated on issues related to macro financial stability and India's preparedness to deal with them, an official statement said after the meeting. The ongoing inter-regulatory issues were also discussed to support GIFT IFSC in its strategic role to become one of the world's premier international financial centres and perform its envisioned role of facilitating foreign capital and financial services for the domestic economy, it said. The FSDC discussed various issues related to the ...

Monetary policy review: Key fact statement must for retail, MSME loans

Providing critical information about the terms of the loan agreement, including the all-inclusive interest cost, will significantly benefit borrowers in making informed decisions

Personal loans segment sees resurgence post Covid: CRIF-DLAI report

Members of the Digital Lenders Association of India (DLAI) contributed 7.9 per cent and 19.8 per cent to originations value and volume respectively in FY23, it noted

Nearly 90% of young people lack ability to calculate loan repayments

The exercise involved calculating the total amount to be repaid after a year if one is given the loan amount and the interest applicable

Jio Financial Services Q3 results: Net profit down 56% to Rs 294 crore

Increases focus on secured lending due to regulatory developments

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