The majority of developing nations are struck with poverty as a leading roadblock to their progress. The main factor that influences the widespread poverty in regions like India is the massive disparity in income distribution. Being an agrarian economy primarily, more than half of the Indian population sustains on agriculture and allied activities. Both the […]
Why Loan Delinquency is a Wake-Up Call for MFI Lenders and the Industry
Did you know that rising loan delinquency rates can lead to significant opportunity costs and damage the reputation of Microfinance Institutions (MFIs)? According to a recent Business Standard report, non-banking financial companies (NBFCs) focusing on microfinance may face higher credit costs due to increasing loan delinquencies. In addition, the asset growth of these companies is […]
The Price of Unchecked Growth: RBI Governor Warns NBFCs
Today, a growing number of Non-banking Financial Companies (NBFCs) face immense pressure to drive higher returns. In the pursuit of this goal, some NBFCs are engaging in irregular practices, which can invite strict action by the Reserve Bank of India (RBI). For instance, the RBI recently imposed restrictions on four NBFCs that were charging exorbitantly […]
How Does Micro Loan Management Software Improve Lenders Profitability?
According to experts, microfinancing has been one of the most instrumental factors in facilitating financial inclusion in India. The Bharat Microfinance Report by Sa-dhan highlights that 98% of microfinance institution (MFI) borrowers are women, demonstrating the significant role MFIs play in empowering women entrepreneurs through micro-credits. This impact is further underscored by data from the […]
Ways Loan Management Software Accelerate Transparent Lending
Ever wonder how India’s banking systems got so high-tech? From the first ATMs in the 2000s to today’s cutting-edge innovations, India’s financial landscape is transforming at breakneck speed. Government initiatives and fintech breakthroughs are fueling this revolution, making banking more efficient, inclusive, and transparent for everyone. Lending was one of the major areas that was […]
Maximising Financial Efficiency: How Lenders Benefit from Adopting Virtual Credit Card
According to Juniper research, virtual card transactions are projected to reach 175 billion by 2028. As identity theft remains a constant concern, virtual card numbers provide a secure alternative for online transactions, offering peace of mind while simplifying payments. These numbers offer a secure, streamlined way for both individuals and businesses for payments. Today, lenders are […]