Jan 26, 2023 09:50 AM IST

How fintech lenders can earn their customers’ trust

Small loans of up to Rs 50,000 have grown 86 percent between March 2019 and March 2021 amid the proliferation of digital lenders. Apart from making credit easily accessible through technology, digital lenders must think about being transparent.

Tapping an app for a loan? Beware of these fraud traps

If you are applying for a loan from a digital lender, know the multiple risks involved. Before installing the digital lending app read user reviews, know the charges and terms.

Is your online lender a fraudster?

PE firms increasing focus on revenue and profitability in funding evaluations: KreditBee’s Madhusudan Ekambaram

In a candid interview with Moneycontrol, KreditBee co-founder and CEO Madhusudan Ekambaram said that he intends to take the company public in three years. He also shared the rationale behind raising funds and provided an overview of the company's revenue and profit numbers.

KreditBee raises $100 mn in extended Series D from Advent International

The new funds will be used for scaling KreditBee's existing business and diversifying its product offerings by venturing into digitally enabled financial products

OneCard revenue grows 6-fold to Rs 97 crore in FY22; loss widens to Rs 183 crore

FPL Technologies Pvt, which operates the credit-card platform, reported a revenue of Rs 97.9 crore in FY22 against Rs 16.4 crore in FY21 (2020-21). The company’s net loss, however, widened to Rs 182.8 crore in FY22 from Rs 33.2 crore in FY21 (2020-21), thanks to a massive rise in its marketing expenses

Customer complaints against digital lenders soar in India, shows RBI data

Experts attribute the rise to aggressive lending, recovery practices

KreditBee raises $80 million in Series D round from existing investors

KreditBee will use the funds to venture into secured loans, home loans, and credit lines. It will also add financial services like insurance, credit score report, and merchant-side offers, among others.

PhonePe in talks to buy ZestMoney to bolster digital lending plans

The development comes at a time when PhonePe is in talks to raise a mega round of $450-500 million, likely to be led by General Atlantic.

The Lendingkart Story | Building Bharat through Digital Lending

Reema Tendulkar gets into an intimate conversation with Harshvardhan Lunia, Founder & CEO of Lendingkart to find out more about the genesis of this fintech brand, achievements so far and aspirations going forward.

Khatabook pivots to new monetization model with digital lending offerings

Khatabook has completed a successful digital lending pilot, and it is now available in all major metros and tier-1 cities in India.

RBI cancels certificate of registration of four NBFCs

The RBI has resorted to cancelling licenses of NBFCs in the past if there have been any violation in norms

Fintech Files: Part 3 | When the RBI sneezes, fintechs catch a cold

A slew of circulars from the Reserve Bank of India has forced the fintech industry to abandon its growth-at-all-costs approach and scramble to comply with the stringent regulations

DotPe raises $58 million in Series B, to expand into B2B financial services

The company plans to use the proceeds of the fundraise to grow its merchant base three times in the next two to three years

Age of fintechs: These financial intermediaries make life easier but there're caveats too

Innovative products and services being offered by the financial technology companies are disrupting the traditional methods of managing finances and spending

Banking | History can help while banning digital lending apps

Just like it happened in the past, we are back to times when we are seeing the mushrooming of entities and apps offering lending (and forex facilities)

M2P Fintech expands offering to provide end-to-end lending interface for banks, fintechs

In the next 12 months, the startup expects the core lending suite to contribute 20 percent to revenue

RBI Guidelines | A new age for digital lending in India

The new digital lending guidelines will help streamline digital lending practices, but the restrictions on FLDGs could force fintech companies to rethink their strategy

FM Sitharaman chairs meet on illegal lending apps; app stores to follow RBI 'whitelist'

All ministries and government agencies are to take "all possible actions" to prevent illegal loan applications from operating, the finance ministry said

Digital Lending | RBI must crystallise its guidelines towards a digital banking regulation Act

The new Act should bring all the entities on a common platform, and analyse how the different entities engage in digital banking and digital banking products

India’s noose for rogue digital lenders not tight enough

The disruption by fintechs, while useful in many ways, has also sired fake and fly-by-night lending apps crowding popular mobile application marketplaces, misleading consumers and taking advantage of their need for money 

Draining the digital lending swamp is not an easy task

The RBI has taken the first step of putting together guidelines but co-ordination among regulators and arms of government critical to rein in unscrupulous operators 

A strong second step must follow RBI’s first one in digital lending

A new age fintech is unlikely to match the banks’ robust underwriting and risk management capabilities, even though it may have access to plenty of data about the borrower

RBI tells banks, regulated entities to desist from harassing borrowers for over dues

Regulated entities must ensure recovery agents call borrowers only after 8 am and before 7 pm, the regulator said in a release.

Explained | What are RBI’s new digital lending norms? 5 questions answered

The RBI’s first set of norms aim to regularise digital lending for regulated entities and crack down on unlawful activities