A bank statement gives a view of all the transactions undertaken by the account holder including deposits, withdrawals, transfers, debit card payments, interest earned, bank service fees, as well as the other installments they are paying over a fixed span of time. All prospective lenders ask for a copy of the applicant’s bank statement from […]
What Makes Finezza the Ideal Corporate Lending Solution?
Weakening demand and a series of defaults have left NBFCs gasping for breath. Banks have been wary of providing them much needed cash due to spiralling NPA volumes. The overall business sentiment in the market has been affected. The lack of liquidity has hit the corporate loan segment hard. Case in point: The top 500 […]
A Brief Trajectory of Fintech Revolution in India
Fintech is relatively a new term on the market. Gradually, it is shaping up into a massive industry that comprises both startups and prestigious financial institutions that strive to enhance the level of financial services. Credit cards were first launched in the 1950s, and it took ATMs a decade to change the way money was […]
How Should Banks Deal with Non Performing Assets (NPAs)?
Non-performing Assets (NPAs) are also known as defaults or bad loans. They result from lousy lending practices like lack of a thorough background check of borrowers for the repaying capacity, financial health, and intent to repay, etc. Sometimes, increased competition coerces banks to disburse unsecured loans. Apart from falling ROIs, NPAs can tarnish the reputation […]
Neobanks: The Ideal Partner for Indian SMEs
India’s SME sector has the potential to drive innovation and job growth despite the challenges faced by the economy. However, it is hamstrung by a lack of credit as small business owners do not maintain proper books of accounts and in some cases, do not have enough business experience either. The lending risk is difficult […]
Here’s What 2020 Has in Store for NBFCs
NBFCs have become an integral part of the Indian lending landscape over the years. Since their inception in the 1960s, they have helped to provide a range of financial services to consumers and businesses across the country. As of March 2019, the total number of registered NBFCs in the country stood at 9,659. Despite the […]