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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The central bank’s big initiatives meant to deliver cheap credit to lenders in a crisis—but fintech NBFCs have seen little of it.
Editor's note: The COVID-19 pandemic has not been kind to companies in the business of lending. It has been especially hard on non-bank lenders, including fledgling fintech startups. The economic fallout of the pandemic and subsequent lockdowns and restrictions across India have seen credit demand dry up, meaning fewer new loans; at the same time, many a customer took the central bank’s offer of delaying their loan repayments, meaning interest income goes down for lenders. They also found themselves in a liquidity crunch, and to top it all off, fintech lenders and other non-banking financial companies, or NBFCs in banking parlance, were themselves on the hook for repaying their own debt to banks. (We’ve written about the current plight of fintech lending earlier.) Amid all this, the Reserve Bank of India came swinging in with a slew of schemes to issue funds to lenders of all hues, including NBFCs. A little background: NBFCs form a key part of India’s lending ecosystem, often offering money where a bank may not, and they account for much of credit issued in the country. Most fintech …
The central bank’s big initiatives meant to deliver cheap credit to lenders in a crisis—but fintech NBFCs have seen little of it.
Editor's note: The COVID-19 pandemic has not been kind to companies in the business of lending. It has been especially hard on non-bank lenders, including fledgling fintech startups. The economic fallout of the pandemic and subsequent lockdowns and restrictions across India have seen credit demand dry up, meaning fewer new loans; at the same time, many a customer took the central bank’s offer of delaying their loan repayments, meaning interest income goes down for lenders. They also found themselves in a liquidity crunch, and to top it all off, fintech lenders and other non-banking financial companies, or NBFCs in banking parlance, were themselves on the hook for repaying their own debt to banks. (We’ve written about the current plight of fintech lending earlier.) Amid all this, the Reserve Bank of India came swinging in with a slew of schemes to issue funds to lenders of all hues, including NBFCs. A little background: NBFCs form a key part of India’s lending ecosystem, often offering money where a bank may not, and they account for much of credit issued in the country. Most fintech …
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
