Are low-interest rates making you jittery? Consider P2P lending

Falling interest rate amid coronavirus crisis has impacted income of many investors who depended on debt instruments; those with surplus cash can consider peer-to-peer lending, which is attracting increasing interest from people willing to lend to those in need of short-term financing — whether individuals or small businesses KEY HIGHLIGHTS P2P lending helps earn decent […]

Three-Month Loan Moratorium: Not a Waiver, May Not Benefit All Borrowers

Opposed to prima facie benefits of the three-month loan moratorium announced by RBI in the wake of coronavirus pandemic, finer details reveal its various limitations The Reserve Bank of India (RBI) on 27 March announced a slew of fiscal measures to fight the economic fallout of coronavirus or covid-19 virus. In one of the measures, […]

Covid-19: Want contactless payments? Go digital

Payment modes like UPI, IMPS, RTGS, mobile wallets and net-banking can contribute effectively in reducing human interactions in the time of coronavirus. The government has initiated a 21-day lockdown to contain the spread of coronavirus, allowing only essential services to operate, but operating such services still require some form of human contact, which is best […]

Use digital banking; wash hands after handling currency notes, says IBA

 As per reports, coronavirus gets transmitted very easily from infected persons to healthy persons.  Indian Banks’ Association (IBA) has come out with guidelines to ensure bank employees and account holders stay safe.  IBA appeals people to wash their hands in case they have to touch or count currency. Amid the lockdown in several states to […]

Handling payments in complete lockdown

Contactless payments could be the way ahead and payment models like UPI, IMPS, RTGS, Mobile wallets, and Net banking could contribute effectively in reducing spread of Corona Virus due to human interactions With the ongoing situation, where 30 states and union territories are under complete lockdown, managing payments have become a concern. While we have […]

P2P Platforms: Millennials are the ones to come on board to lend or borrow

An analysis done by LenDenClub from the annual data of four lakh users of its platform The young are restless and desire money, and they want it instantaneously. The emergence of peer-to-peer (P2P) lending platforms has led to a culture that allows millennials – who may otherwise not be able to get loans from banks […]

This Mumbai-based fintech startup aims to be among the top 25 financial institutions by 2030

LenDenClub is solving a capital flow problem in the financial system of the country. The technology platform allows people with money to connect to people seeking money in a legal/regulated way. The problem is worth hundreds of billions of dollars and it will keep growing with the growth in the economy. The problem started from […]

Study reveals UPI as the most preferred repayment mode on P2P lending

The financial city of Mumbai and the Silicon city Bengaluru topped the chart for the maximum number of lenders and borrowers respectively on P2P platforms. Emergencies such as medical, rent, advance salary were lead reasons for borrowing on P2P platform, says a report released by LenDenClub, one of the leading peer-to-peer lending platforms in India. […]

Emergencies main reason for borrowings, P2P patterns reveal

Emergencies are the main reason for borrowers on the P2P platform LenDenClub. The P2P lender in its annual report over analyzing New age Peer to Peer (P2P) lender, LenDenClub’s study of its customer’s borrowing pattern reveals the primary reason for borrowers on their platform is to borrow for crises such as medical, rent, advance salary. In […]

P2P lender LenDenClub partners with Singapore’s CredoLab for better underwriting

LenDenClub, a leading peer-to-peer lending platform, has partnered with Singapore-based CredoLab, a leading developer of bank-grade digital credit scorecards based on smartphone metadata. LenDenClub’s integration of CredoLab’s credit scoring solution, CredoSDK, will assist the company in building intelligence on customer personas, aiding in the assessment of each borrower application, based on personal, professional, and financial […]

India’s focus on data centres, quantum computing to boost FinTechs

India announced its Union budget for the financial year 2021 and the FinTech ecosystem seems to have given it a thumbs up. Country’s Finance Minister Nirmala Sitharaman on February 1, has proposed to roll-out a new policy for building data center parks across the country and allocated $1.14 billion to invest in futuristic technologies such as Quantum […]

Smart Lending

P2P lending is emerging as an attractive investment option in the debt segment promising 15-20 per cent returns If you have money to invest for the short term, you can consider a new option in the debt segment other than traditional debt instruments such as debentures and bonds – peer-to-peer (P2P) lending, which has emerged […]

Defaulted on a loan? Here’s how you can avoid getting into a debt trap

According to Bhavin Patel, founder and CEO, LenDenClub, an individual is expected to default on his or her loan at least once in life. In banking, commercial loans are considered defaulted if the debtor has made zero payments of interest or principal within 90 days. A loan default occurs when a borrower is not able […]

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 […]