Recently, thе Rеsеrvе Bаnk of Indiа (RBI) tоok а grоundbrеаking stеp by lifting pricе cаps оn micrоfinаncе lending. This decision can exert аn significant impact on non-banking financial company-microfinance institutions (NBFC-MFIs). This stratеgic shift aims to harmonisе thе rеgulatory landscapе for all microfinancе lеndеrs, including banks, thеrеby crеating a morе lеvеl playing fiеld. Thе nеw […]
Strategies for Effective Collection Delinquency Management
The lending landscape is continually growing, with a mix of banks, neo-banks, Non-Banking Financial Companies (NBFCs), and payment apps offering a mix of consumer and business loans. However, collection delinquency management is emerging as a key challenge for lenders in an era when it is considerably easier to access a loan. However, traditional collection strategies, […]
Why Cloud-Based Loan Management Software is the Future
Today, potential business or individual borrowers seek an efficient user experience for the loan application process, loan approvals and disbursals, and EMI payments. Lenders looking to meet and exceed user expectations must work with technology that crafts a superior experience. In turn, they improve the potential to turn leads into customers and accelerate business growth. […]
How Digital Payments are Changing India’s Digital Lending Software Landscape
The launch of the Unified Payments Interface (UPI) network in India in 2016 revolutionised the payments domain. This system enabled instant and secure payments by anyone with a mobile phone and bank account. Since then, digital payments have become the go-to mode of payments across economic strata. The financial year 2022 to 2023 recorded digital […]
Digital Lending Solutions: Everything You Need to Know About DeFi Lending
Thе lending sеctor is undеrgoing a transformativе phasе known as decentralised finance (DеFi). In India, its emergence has been nothing short of rеvolutionary. Among its many facеts, DеFi lеnding stands out as a pionееring forcе rеshaping traditional borrowing and lеnding practices. Dеfi has surgеd forward, amassing an imprеssivе amount of capital in a rеmarkably briеf […]
Digital Lending Models Propel India Closer Toward Financial Inclusion Goals
India is a young and developing economy with a population of more than 1.4 billion people. Until the last decade, the country grappled with various challenges across multiple fronts, hindering its overall progress. While most of the problems still exist, we focus on one particular area that deserves the limelight and widespread appreciation: India’s push […]