A report by credit bureau CIBIL suggests that fall in origination volume can be attributed to decline in both consumer demand as well as lender risk appetite as data shows that credit liquidity is not a challenge for lenders
With dynamics changing, the ongoing pandemic has also impacted financial institutions, pushing them to relook processes and innovate for the new normal
Raj Khosla, founder and MD of MyMoneyMantra (MMM) in an interview with Entrepreneur Media gets candid about why scaling a company on the back of investor's money without making profits is not the right way
According to a study, delay in salaries account for 36 per cent and business downturn 29 per cent of loan defaults. Other reasons for defaults are medical emergencies, loss of job and being out of the city or country.
Mi Credit, at present, services 1,500 pin codes across the country, and the company aims to expand its availability to all pin codes by the end of the current fiscal year.
Uncertainty and delay in loan disbursement, high processing fees, lock-in periods, preclosure charges make access to credit near impossible to many entrepreneurs. FinTech firms are disrupting the borrowing space
FM Nirmala Sitharaman on Thursday asked banks not to announce any stressed loan account for MSMEs as NPA till March 2020 and work on its debt modification