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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 […]

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 […]

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 […]

Lending money is a risky affair. However, there are ways to minimize the risk. Since peer-to-peer (P2P) lending is a relatively new concept and the RBI regulations for the P2P sector are barely about a year old, here are five effective ways in which you can reduce the risk to ensure getting your money back. […]

Digital lenders faced another roadblock as the National Payments Corporation of India has issued a circular, stating that e-sign mandate products will be suspended with effect from 26 November 2018. The decision was taken by the steering committee of the National Automated Clearing House, regulated by the NPCI. The electronic NACH or e-NACH form gives […]

Flipkart co-founder Sachin Bansal is believed to back cab aggregator Ola with a $100 million investment after exiting Flipkart post its buyout by Walmart. Recently, Freecharge co-founder Kunal Shah announced his next start-up Cred, a platform to reward creditworthy individuals. Shah follows in the steps of Ashish Kashyap, founder of travel portal Ibibo, who recently […]

LenDenClub is the new-age P2P platform that aims to foster financial inclusion by leveraging technology to support borrowers with hassle-free loans, even in the remotest parts of the country. LenDenClub currently enjoys a borrower base of over 30000, while a lender base of more than 9000. While the lenders at the platform are spread all […]

As the brewing financial and macroeconomic troubles take the sheen out of some asset classes, online peer-to-peer (P2P) lending is becoming an attractive option for high-risk-high-return investors. Disillusionment with mutual funds after the crisis in non-banking finance companies (NBFC), near-death of cryptocurrency market and diminishing returns from other asset classes have seen registrations on P2P […]

Instead of chasing customers for home and auto loans, fintech start-ups have caught on the travel bug that has bitten Indian millennials. Start-ups in fintech and peer-to-peer (P2P) lending platforms are devising strategies of attracting more millennials towards small-ticket loans ranging from Rs 10,000 – 200,000, which are being mainly utilised towards experiential travel. Entrepreneurs […]

In spite of agreeing that profiling undermines civil liberties and surveillance is unconstitutional, the judges reach the conclusion that neither is possible in the Aadhaar system Last week, the Supreme Court of India upheld the controversial Unique Identity scheme or Aadhaar. Following the second-longest hearing in the history of the Indian judiciary, the five-judge bench delivered a 1,448-page judgment more […]

The recent Supreme Court verdict on Aadhaar may bring in tough times for the fintech companies who used to conduct eKYC (electronic Know Your Customer) via Aadhaar. Not mandating Aadhaar for the verification process has sent some fintech players back to the drawing board to work out strategies for physical verification, which is usually a […]

Looks the Indian startup’s ecosystem is smitten by the opportunities fintech industry is benefiting of. No wonder, we have unicorn startup companies such as the Flipkart looking into tap the market. Market buzz says that Flipkart is in the middle applying for an NBFC license to extend the line of credit to its sellers and […]

Section 57 gave birth to e-KYC, which allowed companies like Reliance Jio to rapidly acquire new users. Will bringing in a new law allow pvt entities to regain access to Aadhaar? New Delhi: Finance minister Arun Jaitley on Wednesday indicated that the Centre would examine whether separate legal backing is needed for Section 57 of the […]

The Supreme Court on Wednesday upheld the constitutional validity of Aadhaar, but with conditions. Justice A.K. Sikri pronounced the majority judgment on behalf of himself, Chief Justice of India Dipak Misra and Justices A.M. Khanwilkar and Ashok Bhushan. However, Justice D.Y. Chandrachud gave a dissenting judgment. The following are the reactions from exerts from various […]

The Supreme Court of India on Wednesday, while upholding the constitutional validity of Aadhaar, struck down Section 57 of the Aadhaar Act, which allowed the sharing of citizen data with private entities. The five-judge bench of the apex court took on Section 57, a much-contested segment of the act, which permits the state or any […]

It is no longer mandatory to provide your Aadhaar while opening a bank account, nor needed for your phone connections and school admissions. The Supreme Court has upheld the constitutional validity of Aadhaar while striking down and reading certain sections of the Aadhaar Act 2016. In the 1448-page judgement, the 5-member bench – with one […]

SC struck down Section 57 of the Aadhaar Act which would now prevent private companies from accessing the data. Looks like the Supreme Court of India is on fire as soon after scrapping of the controversial section 377, the apex court has now rolled its sleeves to address concerns related to the much talked about […]

To be or not to be is no longer the question. The question has now been pushed into the details — what form should it exist in and how should it be implemented. We’re talking about Aadhaar — the controversial, much-debated, biometrics-based identification system for 1.3 Bn Indians. After months of waiting, the landmark judgement of the Supreme Court (SC) […]

आधार एक्ट की धारा 57 की मदद से प्राइवेट कंपनियों के पास ये अधिकार था कि वो आपके आधार डेटाबेस में झांक सकते थे. लेकिन बुधवार को सुप्रीम कोर्ट ने इस एक्ट को खत्म कर ये कह दिया कि अब किसी भी व्यक्ति या प्राइवेट कंपनियों के पास ये अधिकार नहीं कि वो आपसे आपका […]

Several private entities use the unique identity card-based e-Know Your Customer process to verify their clients and add them to their database. Private firms and banks are hoping that Parliament will introduce legislation to relax the Supreme Court’s restrictions on their use of Aadhaar data, Business Standard reported on Thursday. The top court on Wednesday upheld the constitutional validity […]

Legal experts claim introducing a law to bypass the SC directive may not be possible given the court’s stern stance Even as the Supreme Court (SC) disallowed the use of Aadhaarauthentication services by the private sector, companies in the fintech business have voiced their concern on the order. Companies argue that without Aadhaar authentication, their businesses will get disrupted and the government needs to think […]

The Supreme Court of India on Wednesday, while upholding the constitutional validity of Aadhaar, struck down Section 57 of the Aadhaar Act, which allowed the sharing of citizen data with private entities. The five-judge bench of the apex court took on Section 57, a much-contested segment of the act, which permits the state or any […]

The companies have sought a legislation that reinstates their ability for the companies to ask for Aadhaar, said the report. Section 57 allowed any “body corporate or person” or private entity to demand Aadhaar from citizens for the purpose of identification. The apex court ruled that linking of Aadhaar cannot be made compulsory for services […]

Say Aadhaar mode was convenient, faster; firms may ignore poor now MUMBAI, FEBRUARY 26 The Supreme Court’s verdict on validity of Aadhaar might lead to short-term difficulty for companies in the financial technology (fintech) sector. According to several players BusinessLine spoke to, the cost of customer on-boarding might go up substantially from almost ₹1 to a few hundred […]

Below is a list of deals that happened in Indian Startup Ecosystem today (20th July 2018). Read a brief description about all of them: 1. YourNest Angel Fund-backed SmartQ, a food-tech startup, has acquired Nexus Venture Partners-backed Goodbox’s cafeteria business for an undisclosed sum. 2. LenDenClub, an online peer-to-peer lending marketplace for salaried borrowers, has […]

• Becomes one of the first peer-to-peer lending companies to receive the certification • The platform will now be able to report loan data to all credit bureaus • It will help fight legal battle to recover back lenders’ money Mumbai, July 20, 2018: LenDenClub an online Peer-to-Peer lending marketplace for salaried borrowers has received […]

LenDenClub, an online peer-to-peer lending marketplace for salaried borrowers, has received its Certificate of Registration from the Reserve Bank of India (RBI) to officially operate as an NBFC-P2P. Bhavin Patel, Chief Executive Officer at LenDenClub said, “Registration as NBFC-P2P was one of the most important stepping stone for us. This is the altogether different era for us […]

Mumbai, July 20 LenDenClub, online peer-to-peer lending marketplace for salaried borrowers, today said it has received RBI clearance to establish itself as an NBFC-P2P. RBI today gave Certificate of Registration (CoR) to LenDenClub as an NBFC-P2P making it the one of the first 3 players to start operations in India, said in a release here. […]

LenDenClub Becomes one of the first peer to peer lending companies to receive the certification. The Platform will now be able to report loan data to all credit bureaus. It will help fight legal battle to recover back lender’s money. Credit: Inc42 Read more at: https://inc42.com/buzz/news-roundup-62-2/

P2P lending platform LenDenClub has received its NBFC-P2P certification from the Reserve Bank of India (RBI), the Economic Times said. The RBI issued those guidelines last October, to register and accredit P2P lending firms that resell loans from individuals who have money to invest. Started in 2015, the Mumbai based company essentially connects lenders with spare money with […]