Page 7 - Digital Lending

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

MoneyTap launches 'buy now pay later' facility for digital borrowers

Digital lending platform MoneyTap on Wednesday said it has unveiled a 'buy now pay later' facility for its borrowers

No data on number of companies giving online app-based loans, says govt

Anurag Thakur informed the Parliament that the MCA does not capture the data of registered companies providing online lending services

Fraud in fintech being fought with regulatory tech

It has been estimated that more than 1,200 lending apps are active in India. While some have been shut down or removed from Google or Apple platforms, others can pop up with frightening speed

RBI working committee in favour of setting up NPCI-type agency for fintechs

RBI panel favours new structure for better supervision

RBI to crack whip on recovery agents, calls for restricting messaging apps

Digital lending apps extend small amounts at exorbitant rates. Payment delays invite messages to customer or close family members, often with sensitive information such as Aadhaar and PAN Card scans