Why India’s digital lending market is attractive for start-ups and tech giants alike

Gaurav Chopra and Mayank Kachhwaha spotted a gap in India’s lending market four years ago and decided to do something about it. The two entrepreneurs, who worked for a credit company in London, knew that many in India – individuals or small businesses – are unable to secure loans, or go to loan sharks who […]

Planning to gift a Diwali trip to your family? Here are some pocket-friendly options to bring it within reach

Instead of gifting regular gift items like crockery sets, scented candles, etc this festive season, you may surprise your family and parents by charting a memorable travel plan for them. From booking travel tickets, a stay in an exotic resort with modern amenities to making arrangements for activities like nature walks, kayaking, and snorkeling, such […]

P2P Lenders Grow Amid A Gloomy NBFC Environment

Peer-to-peer lenders, which facilitate direct borrowing and lending via technology-based platforms, have seen continued growth in business amid a credit crunch across non-bank lenders. The 19 P2P lenders have now facilitated disbursals of close to Rs 500 crore, estimate industry executives who say that a good chunk of this growth has come in the last […]

Spearheading Change: How Women Can Disrupt The Domain Of Finance

We all remember the iconic “Fearless Girl” statue unveiled in 2017, which is now situated in front of the New York Stock Exchange. It sparked conversations around the world about the power of women in positions of leadership at organisations. After it went viral globally, several companies made the move to add women members to […]

LenDenClub raises $1M from Artha Venture Fund, others

Peer-to-peer lending startup LenDenClub has raised $1 million (Rs 7.2 crore) in a pre-series A funding round, led by existing investor Artha Venture Fund. Several family offices like the UAE-based Transworld Group participated in the round, along with angel investors like Health and Glow director Shuchi Kothari, Livspace cofounder Ramakant Sharma, Narendra Karnavat and others. This is the follow-up of […]

With Aadhaar for KYC, FM saves NBFCs and FinTechs

Announcing a line of measure to revive the sentiments around economic slowdown, Nirmala Sitharaman has allowed NBFCs to use Aadhar authenticated bank KYCs. The Finance Minister said that many people who came for consultation said what has been proved once is repeatedly asked by another agencies. Clearly, Aadhar can be authenticated by banks KYC and NBFCs need not ask and […]

Fundraising lessons for newbie ventures

Fundraising never looked so easy, at least for the established unicorns and start-up bigwigs. A host of ventures have been raking in funds in recent weeks to fuel ahead their growth and expansion. Food delivery unicorn Swiggy is reportedly closing a $750 million funding round with participation from its existing investor Naspers and others. Ed-tech […]

Startups welcome move to ease rules for issuing differential voting shares

The decision of the government to amend the Companies Act with with the aim to enable Indian entrepreneurs to retain control of their companies as they raise equity capital from global investors with DVR (Differential Voting Rights) shares, increasing it to 74 per cent of total voting rights from the existing 26 per cent, has […]

RBI’s Move to Make NEFT 24X7 Available is a Win-Win for All. Here’s How

In a move that has given online payments a humongous push, the Central Bank of India, RBI, announced National Electronic Funds Transfer (NEFT) services would be available 24X7 from December 2019. Currently, the system is operated by RBI on all working days of the body. NEFT is an online payments system that provides fund transfers […]

FM abolishes scrutiny under Angel Tax; VCs and startup laud budget.

The Budget outlines for startups and investors who file the requisite disclosures will not be subjected to any kind of scrutiny by tax officials in respect of valuation of share premium. Further a mechanism of e-verification will be put in place and capital raised by startups will not come under any kind of scrutiny. Industry Views on Angel […]

Union Budget 2019: Startups Are Ready To Lead The Next Growth Wave Of India

Unemployment has been a raging issue in the country in recent times Incentives like ‘Skill India’ and ‘Digital India’ can really change India’s future Extension of benefits to rural areas is expected In less than two days, Finance Minister Nirmala Sitharaman going to present her maiden budget on July 5 at a time when India’s economic growth […]

RBI Issues Clarification on Data Localisation: Can Payments Industry Breathe at Ease?

Issuing a clarification on the directive related to data localisation, the Reserve Bank of India (RBI) said all payments-related data must be stored in India, however, under special circumstances, a copy of the data can be stored abroad. An RBI statement said, “For cross border transaction data, consisting of a foreign component and a domestic […]

Borrowing from a P2P platform? Here’s what you need to know

– Check if your P2P platform is registered with the Reserve Bank of India. While many online lending platforms offer quick loans, only a few of them have received the NBFC-P2P registration from RBI, making it a safer and credible platform for both investors and borrowers. – Make sure you check for any extra charges […]

Is fintech reeling under new challenges?

The super exciting fintech segment in the start-up ecosystem has been encountering a host of challenges in the recent past. Following a move by the Reserve Bank of India (RBI) to start a regulatory sandbox for the beta-testing of new fintech products in a controlled environment prior to their release, comes the issue of a […]

LenDenClub: One of India’s First P2P Lending Networks Bridges the Credit Gap for the Country’s Working Class

  The Fourth Industrial Revolution is upon us. Human research and labor is merging with artificial intelligence, blockchain technology is being refined almost daily, and the global economy is more important than ever. Emerging and fast-growing economies are poised to reap the benefits of these latest developments if they can position themselves strategically in the global market […]

With Regulatory Sandbox, RBI Looks To Create Innovation Test Lab For Fintech

India’s fintech space is going through an evolutionary phase. Fintech startups especially in payments, insurance and lending have brought the banking services to every consumer’s mobile. Acknowledging the recent innovations by fintech startups, the Reserve Bank of India (RBI) has now released a draft ‘Enabling Framework for Regulatory Sandbox’ that will allow fintech startups to […]

Poll promises good, but startups flag bad delivery

In a nation where unemployment has been brewing for years and everyone aspires to be an entrepreneur, political parties have tried to hit the right note with voters by promising to support the start-up ecosystem if they win. Both the BJP and the Congress have promised a wide range of initiatives, but startups say the […]

#Elections2019: What Indian Start-ups Want from the Next Leader?

The elections are around the corner and everyone is ready with their agenda. While the political parties are doing their utmost to sound convincing to the masses and even to themselves, the Indian start-up community is also ready with their requirements and the list of things they want for the advancement of their sector. The […]

P2P Lenders to the Rescue of MSMEs

The Indian Micro, Small & Medium Enterprise (MSME) sector is massive. There are more than 60 million MSMEs in the country. The sector contributes 30 per cent to the country’s GDP and employs over 100 million people. And yet, often it is declined formal credit that helps keep businesses up and running. According to an […]

P2P lenders develop new ways to build trust

With peer-to-peer (P2P) lending not taking off the way micro finance and NBFC ventures have, many are coming up with innovative schemes to instill more trust in the system and attract a bigger audience. A big challenge for them is to convince normal middle-class households to lend to strangers. To help them overcome that, P2P […]

Women from small towns queue up for P2P loans

23-year-old Riteshwari from Ghaziabad wanted to start a beauty salon. She hit a roadblock when she tried to raise funds from her bank. Even though she had a savings bank account with the bank and her income tax returns in place, the bank asked her to open a current account. The cumbersome process made her […]

P2P lenders give thumbs up to budget 2019

A slew of tax sops in budget 2019 would have a positive impact on the P2P industry, believe leaders of the emerging industry. “This will have a positive impact on credit supply, put downward pressure on the lending rates and attract more creditworthy borrowers to P2P lending. We want the government to ease taxation on […]

Budget 2019 and How Fintech Players Can Play a Major Role in Bringing Loan & Credit Products to Indians

Fintech has become a buzzword of sorts in India over the last couple of years and for good reason. The rise of alternate lending platforms, digital payment providers, new avenues of investment and easier access to banking services for a vast majority of unbanked and underserved Indians has created a solid niche for this sector […]

P2P industry expectations from Budget 2019

Attracting angel investments “Our industry definitely needs proper solution on Angel Tax. It will help to boost start-ups whilst attracting angel investments sans tax implications,” says Bhavin Patel, Co-Founder & CEO, LenDenClub. From this Budget, we also “expect appropriate initiative by the Central government on KYC mechanisms for the fintech space.” Patel says the P2P […]

How are interest rates set on P2P platforms?

Everybody loves a cheaper loan. But ever wondered what determines the rate of interest on personal loans. There are no fixed interest rates for unsecured loans. The rates vary according to the borrower’s ability to repay and his credit profile. Risk profiling is the most important aspect of peer to peer (P2P) lending. A borrower […]

Budget 2019 demands: Startups seek ease in borrowings, P2P loans, exemption of Angel Tax

The number of formalities, bank or any financial institution perform, become hectic for borrowers. Therefore, they are quickly shifting towards ‘Peer to Peer’ lending. It is a unique platform that lets borrowers and lenders contact each other. P2P platforms are the online based applications or channels that allows investors to lend money to the listed […]

Interim Budget 2019: Here’s How Modi Government Can Promote the P2P Industry

Transaction value in the P2P segment is about $1,123m and this number is expected to grow at CAGR (2019-2023) of 19 per cent Even though the Chinese P2P industry is tumbling, the Indian ecosystem is pretty optimistic about the domestic P2P industry. Time and again, the banking watchdog has introduced directions to protect investors’ interest […]

Investing in P2P Vs Equity MFs, FD and other instruments

2018 was not a great year for equity investors. 2018 was not a great year for equity investors. The Sensex gave around 8 percent returns in the last one year, while the Nifty generated around 5 percent in the year gone by. Fans of fixed deposits didn’t have a great year either. Interest rates on […]

Planning to lend on a P2P platform? Avoid these 5 common mistakes

Lending money to someone, ensuring regular interest payments, and eventually the return of principal on time — it is a tough job. Sure, P2P platforms make the task a lot easier for lenders. However, first-time lenders on these new digital platforms still find the task arduous. Here are a few common mistakes you can avoid […]

Suspension of Aadhaar verification to hit lending of small fintech players

MUMBAI, NOVEMBER 28 Fintech players, especially online lenders in the personal and consumer loans segment, are likely to face slowdown in business following the Supreme Court order that prevents private companies from seeking Aadhaar data for e-KYC and e-signatures. Following the apex court’s order, the National Payments Corporation of India (NPCI), an umbrella organisation for […]

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