The platform, meant to revolutionize credit for small and medium-sized businesses, has failed to take off.
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Fintech startups have only been able to corner a small part of the value in gold-linked financial products like gold loans and digital gold even as gold prices have shot up. Regulatory changes may pose a further challenge.
The increasing convergence of sales and service functions, with consequent non-stop pressure to meet targets, has seen employees jump ship in droves. This has the potential to adversely impact the financial institutions’ health.
The finance minister has stated that banks have recovered Rs 14,131 crore by selling Mallya’s assets. However, the businessman has a number of other hurdles to cross before he can come back to India.