Public sector lender Bank of Baroda reported a net profit of Rs 1,061 crore in the October-December quarter (Q3) of FY21, compared to a loss of Rs 1,407 crore in the year-ago period. Despite interest income declining by almost 7 per cent, net interest income rose 8.65 per cent to Rs 7,749 crore in Q3 compared […]
Bank of Baroda clocks Rs 1K-cr profit, warns of stress in retail, SME loans Read More »
London and Mumbai-based business loans startup CreditEnable, on Tuesday (January 19), announced that it has raised $2 Mn in a pre-series A funding led by startup incubator Venture Catalysts, along with its UK arm JPIN Venture Catalysts. Prior to this, the company had also raised $5 Mn in a seed round from investors such as
The Reserve Bank of India (RBI) asked banks to step up disclosures on customer complaints and cost of redressal, cautioning lenders that fail to improve their redress mechanism quickly will be charged. At the end of March 2020, the total number of complaints across various offices of RBI stood at 3,08,630. This is a steep
RBI says it will charge banks if they do not improve customer grievance Read More »
Financial technology (FinTech) has disrupted the traditional lending process and made loans more accessible to the underserved and underbanked segments. Banks are usually wary of lending to Micro, Small and Medium Enterprises (MSMEs) and are more cautious amid COVID-19 times. Small businesses generally face challenges to show collateral and are hence unable to avail credit
5 top FinTech lending companies for MSMEs in India Read More »
Fintechs warn the government’s SME loan scheme will fail. Announced just days ago by Chancellor Rishi Sunak, members of the fintech community including Tide and Iwoca are already urging a rethink. “I have written to the government today to outline that the Coronavirus Business Interruption Loan Scheme, accessible via the British Business Bank, has a worrying lack of reach,” said Tide CEO Oliver Prill. In The
Fintechs warn the government’s SME loan scheme will fail. Announced just days ago by Chancellor Rishi Sunak, members of the fintech community including Tide and Iwoca are already urging a rethink. “I have written to the government today to outline that the Coronavirus Business Interruption Loan Scheme, accessible via the British Business Bank, has a worrying lack of reach,” said Tide CEO Oliver Prill. In The
Sponsored Q&A: Funding Circle is the leading SME loans platform in the UK, US, Germany and the Netherlands, with over £8bn lent through the platform to 77,000 businesses. With mandates awarded from both local government treasurers and the Merseyside Pension Fund, chief capital officer Sachin Patel sets out the case for investing in the smaller
Sponsored Q&A: Funding Circle’s Sachin Patel on investing in SME loans Read More »
Sponsored Q&A: Funding Circle is the leading SME loans platform in the UK, US, Germany and the Netherlands, with over £8bn lent through the platform to 77,000 businesses. With mandates awarded from both local government treasurers and the Merseyside Pension Fund, chief capital officer Sachin Patel sets out the case for investing in the smaller
Sponsored Q&A: Funding Circle’s Sachin Patel on investing in SME loans Read More »
Its group CEO Datuk Sulaiman Mohd Tahir (picture) said external developments, particularly news of the UK’s exit from Europe (Brexit) and ongoing US-China trade tensions, have brought “a holdback in terms of investment”. “We see a tapering down in small businesses. Of course, it is better than industry growth, but sentiment remains cautious in terms of the
AmBank keeps cautious stance Read More »
NeoGrowth is a pioneer in digital lending for SMEs in India, and Paisabazaar.com is one of India’s largest online marketplaces for financial products. The two had partnered to provide swipe-machine-based or POS-based loans to small and medium scale enterprises, said a release. Piyush Khaitan, Founder and Managing Director, NeoGrowth said: “I am delighted with this
NEOGROWTH-PAISABAZAAR.COM SME LOANS UP 100 PC DURING OCT-DEC ’18 Read More »