Tata Power–Bank of Baroda Pact Unlocks ₹10 Crore Collateral-Free Loans for Solar Projects up to 10 MW

Tata Power Renewable Energy Limited (TPREL), one of India’s leading renewable energy companies and a subsidiary of The Tata Power Company Limited (Tata Power), has signed a Memorandum of Understanding (MoU) with Bank of Baroda, one of India’s premier public sector banks, to facilitate financing solutions for MSME and Commercial & Industrial (C&I) customers opting for solar energy.

Under this partnership, Bank of Baroda will extend financial assistance to borrowers purchasing solar equipment and projects of up to 10 MW capacity through TPREL or its authorized channel partners. This initiative is designed to help MSME and C&I businesses adopt renewable energy with greater ease, reduce operating costs, and contribute to India’s sustainability goals.

The financing scheme offers several key benefits, which include an attractive rate of interest starting from 7.75%, collateral-free loans of up to ₹10 crore CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) coverage, flexible repayment tenure of up to 120 months, pan-India financing coverage, reduced margin requirements (starting from 20%), and concessional processing fees.

As of August 2025, TPREL has successfully completed over 2.49 lakh rooftop solar installations, achieving a cumulative capacity exceeding 3.6 GWp. In the C&I segment, TPREL has catered to a diverse set of customers across various sectors viz - Hospitality, Automotive, Aviation, Education, HVAC, Chemical, Steel, Electronics, and Textiles, among others.

This collaboration underscores TPREL’s commitment to accelerating clean energy adoption across industries and highlights Bank of Baroda’s focus on strengthening green financing to support India’s transition towards a low-carbon economy.

It further reinforces TPREL’s position as a leader in India’s renewable energy journey, contributing to the nation’s target of achieving 500 GW of renewable energy capacity by 2030.

Godrej Finance Partners Muthoot FinCorp to Expand MSME Lending via Property-Backed Loans

• Aims to achieve disbursals of INR 250 crore in FY26.

Godrej Capital, is the financial services arm of Godrej Industries Group. Godrej Capital’s subsidiary, Godrej Finance (GFL), has entered a co-lending partnership with Muthoot FinCorp to enhance credit access for MSMEs in Tier-2 and Tier-3 cities, building on Muthoot FinCorp’s strong presence and deep market reach in these regions.

L to R: Vinod Reddy, CBO – Secured & Unsecured Lending Business, Muthoot FinCorp, Manish Shah, MD & CEO, Godrej Capital, Shaji Varghese, CEO, Muthoot FinCorp, Pankaj Gupta, MD & CEO, Godrej Finance – a subsidiary of Godrej Capital, Shalinee Mimani, CRO, Godrej Capital

The co-lending partnership will offer loan against property ranging from INR 10 lakh to INR 75 lakh, with an average ticket size of INR 15 lakh. With operations spanning pan-India, this offering is well-positioned to tap into markets with strong demand for accessible and timely credit. The partnership will soon be expanded to include other products such as gold loans and housing loans.

Through a seamless digital integration, this partnership will ensure faster approvals, greater transparency, and compliance with RBI’s co-lending framework. Under the terms of the agreement, the company will assume 80% of the risk, with Muthoot FinCorp covering the remaining 20%. Muthoot FinCorp will oversee underwriting, collections, and the customer journey, while the company will ensure regulatory compliance through a jointly defined policy framework.

Manish Shah, MD & CEO of Godrej Capital stated, “Access to timely credit can make all the difference for a growing business, especially in Tier-2 and Tier-3 cities where it is needed the most. With our partnership with Muthoot FinCorp, we aim to bridge this gap for MSMEs by offering simpler, transparent, and faster lending solutions. Our endeavour is to help businesses grow with confidence while contributing to a stronger and more inclusive financial system.”

Shaji Varghese, CEO of Muthoot FinCorp added, “MSMEs are the largest contributor of employment in the country after agriculture but access to credit is a pertinent challenge faced by the sector. With our 3700+ branches and Muthoot FinCorp ONE app, we have expanded our reach to the hinterlands ensuring accessibility to these MSMEs. With our new partnership with Godrej Capital for Loan Against Property offering to the sector, I am sure we will further contribute to the growth of MSMEs by meeting their financial requirements timely and effectively”.

Through its subsidiary GFL, the company offers a diverse range of loan products to meet the varying needs of MSMEs and individual borrowers. These include offers such as Loan Against Property, Udyog Loan Against Property for smaller-ticket requirements, and unsecured Business Loans.

The alliance is targeting disbursals of INR 250 crore in this fiscal year, with a strong focus on high-potential markets across North, South, and Western India. As one of the few co-lending partnerships between NBFCs, it reflects a robust digital-first approach and sets the stage for broader participation in the fast-growing MSME lending space.

Quick Personal Loan vs Traditional Loan: Which Saves More Time?

Time is often more valuable than money, especially when unexpected expenses pop up. From sudden medical bills and urgent home repairs to last-minute travel, there are moments when immediate financial support becomes essential. In such situations, choosing between a quick personal loan and a traditional loan can make a significant difference. While both options provide access to funds, the speed, convenience, and ease of application can vary greatly.

A quick personal loan is designed for fast approval and rapid disbursement of funds, whereas traditional loans typically involve longer processing time and more paperwork. Understanding these differences is crucial to determining which option can truly save you time and efficiently meet your urgent financial needs.

Understanding Quick Personal Loans

A quick personal loan is designed to provide fast access to funds with minimal paperwork. Unlike traditional loans, these loans are often processed digitally, allowing applicants to receive approval within hours or a few business days. Financial institutions and fintech companies have developed these loans to cater to urgent financial needs, providing a convenient solution for borrowers who cannot afford to wait.

The key benefit of a quick personal loan is its streamlined process. Typically, all you need is basic personal and financial information, and sometimes your bank account details for verification. This simplicity translates into faster disbursement of funds, often directly into your account, helping you address your needs without delay.

How Traditional Loans Work

On the other hand, traditional loans follow a more structured and often slower approval process. These loans usually involve a thorough assessment of your creditworthiness, income verification, and other documentation. While this approach ensures a detailed evaluation and potentially lower interest rates, it can take anywhere from a few days to several weeks before funds are released.

The lengthier process can be inconvenient if you are facing urgent financial requirements. Though traditional loans are reliable and often suited for planned expenses, they may not be the best choice when time is of the essence.

Application Process: Speed vs Thoroughness

When comparing a quick personal loan to a traditional loan, the application process is a major differentiator. Quick personal loans often allow you to apply online, eliminating the need to visit a bank branch. Verification and approval are expedited using automated systems, which means you can receive funds within 24-48 hours.

In contrast, traditional loans may require in-person visits, multiple forms, and detailed documentation. While this thoroughness ensures that the lender fully assesses the risk, it significantly increases the waiting period. If your primary goal is speed, a quick personal loan clearly has the edge.

Documentation and Eligibility Requirements

One of the reasons quick personal loans are faster is the simplified documentation process. Most lenders require only a government-issued ID, proof of income, and bank account details. Some fintech lenders even offer instant approval with minimal paperwork, making the process highly efficient.

Traditional loans, however, involve more extensive documentation. In addition to identification and income proof, you may need credit reports, tax returns, employment verification, and collateral documents for secured loans. While this thorough evaluation can result in better loan terms, it significantly delays access to funds.

Approval Time and Fund Disbursement

Time is money, and in financial emergencies, waiting days or weeks can exacerbate stress. A quick personal loan often provides approval in as little as a few hours, with funds transferred within a day. This rapid turnaround makes it an ideal option for urgent needs.

Traditional loans, in contrast, can take weeks for approval and fund disbursement. While they may offer lower interest rates or higher loan amounts, the extended timeline can be inconvenient for borrowers requiring immediate support.

Interest Rates and Cost Considerations

While speed is a major advantage of quick personal loans, it’s essential to consider costs. These loans may have slightly higher interest rates compared to traditional loans due to the expedited process and lower risk assessment time. However, the trade-off is the convenience and time saved.

Traditional loans often provide lower interest rates, particularly for borrowers with good credit scores. But if time is critical, the slightly higher cost of a quick personal loan may be justified, especially when it prevents financial setbacks or late fees on urgent bills.

Flexibility and Convenience

Flexibility is another area where quick personal loans shine. Many lenders offer online applications, digital agreements, and 24/7 access, allowing you to manage your loan from anywhere. This convenience ensures that you don’t have to wait for bank hours or schedule appointments.

Traditional loans, while reliable, often lack this level of convenience. You may need to follow up with bank representatives, submit physical documents, and adhere to strict schedules, which can add to the overall time spent securing funds.

Which Saves More Time?

When it comes to saving time, a quick personal loan stands out against traditional loans. With its simplified application, minimal paperwork, rapid approval, and instant digital disbursement, it’s ideal for urgent financial needs. Traditional loans, though often cheaper and more structured, usually involve longer processing times and are better suited for planned expenses.

In situations where every hour matters, a quick personal loan can help you manage emergencies effectively, avoid late fees, and maintain stability. While cost plays a role, the time and convenience offered often outweigh slightly higher interest rates. The choice ultimately depends on whether you prioritize speed or long-term savings. For those seeking faster solutions, platforms like Olyv make the process smoother than ever.

Poonawalla Fincorp Launches Gold Loan Business, To Open 400 New Branches

• The company plans to strengthen its presence across Tier 2 and Tier 3 cities by opening 400 new branches in a phased approach over the next four quarters

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC focused on Consumer & MSME Lending, has expanded its portfolio of secured lending products with the launch of its Gold Loan Business. This new offering provides a secure, fast, and transparent financing solution for individuals and businesses, catering to diverse financial needs such as business expansion, agriculture costs, and personal expenses.

With faster approvals in less than 30 minutes, minimal documentation, and multiple repayment options, customers can unlock the value of their gold without selling it - ensuring financial flexibility while preserving long-term wealth.

Commenting on the launch, Mr. Arvind Kapil, MD & CEO, Poonawalla Fincorp, said, “Our gold loan offering represents a natural progression in our secured lending portfolio, combining traditional value with modern convenience. We have designed this product with the customer journey at its core, respecting both the emotional and financial value of gold. At Poonawalla Fincorp, customer asset safety and transparency remains paramount, while delivering reliable and premium services.”

Gold holds significant importance in Indian households as a reliable source of wealth and security, serving as a strategic asset for those needing quick access to funds. The gold loan market in India represents a substantial opportunity, with projections indicating robust growth over the next several years across both urban and rural markets. Other than being a secured business, gold loan offers the strength of low credit risk and resilience during economic uncertainty. PFL is strategically positioned to capture this growing opportunity through its customer-centric approach and commitment to delivering premium services tailored to borrowers' needs.

To strengthen its presence across Tier 2 and Tier 3 cities with a secured product, PFL plans to open 400 new branches in a phased approach over the next four quarters. The company facilitates loan access through its branches and localized outreach, having onboarded industry professionals to provide tailored financial solutions and enhance customer experiences across regions.

Built on the pillars of trust, transparency in valuation, security, and governance-first, PFL’s Gold Loan offers reliable solutions to address customers' financial needs. The company maintains its risk-first approach to delivering timely financial solutions that bridge the credit gap while empowering customers to retain their precious assets. It remains committed to simplifying lending, creating customer delight, and enhancing experiences, which are the company’s top priorities.

Poonawalla Fincorp Limited is headquartered in Pune and is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Company’s identity “P” stands for Passion, Principles, Purpose, People and Possibilities. The company has widespread coverage across 18 states and 2 Union Territories and has an AUM of approximately ₹35,550 crore as of March 31, 2025. It employs around 2,560+ people as of December 31, 2024. The company’s financial services offerings include pre-owned car finance, personal loans, loans for professionals, business loans, loans against property, machinery loans, education loans, commercial vehicle loans, and shopkeeper loans.

Chinese-owned Loan Apps' Companies Turn Rs 1 Cr to Rs 6 Cr in 90 Days, Finds ED Investigation

The Enforcement Directorate (ED) recently conducted an investigation into several Chinese-owned fintech companies operating in India. The investigation revealed that these companies were able to turn an investment of Rs 1 crore into Rs 6 crore in just 90 days by offering short-term loans through mobile apps.

These companies charged 30%-40% of the sanctioned loan amount as an upfront processing fee.

Interest rates on these loans were as high as 36%, making the effective annual interest rate reach up to 2,000%, eventually making repayment extremely difficult. This fee is charged every time a borrower takes a loan. These short-term loans are for anywhere between a week to four months.

According to an Indian Express report, the ED Investigation found that the borrowers and their contacts are also sent fake legal notices, messages labelling them as thieves, apart from adding them to Whatsapp groups where abusive messages are sent. Women contacts are harassed with obscene messages.

Borrowers often found themselves in a debt trap, taking new loans to pay off previous ones due to the high costs involved.

Despite the high costs, these companies managed to achieve a net profit margin of Rs 5.2 crore in just three months.

The ED sources said that, although such fintech companies have Indian employees, the ultimate owners are Chinese who take the decisions. In the recent case of PC Financial Services (PCFS) which ran the Cashbean app, ED found that Rs 429 crore was sent to Chinese owners allegedly through bogus transactions which are violations under FEMA.

Earlier this year, the ED conducted raids across 19 locations in Delhi, Chandigarh, Haryana, Punjab, and Gujarat and conducted investigation of several Chinese-owned fintech companies, including Shinebay Technology India Private Limited (STIPL) and Mpurse Services Private Limited (MSPL).

These companies were involved in unethical lending practices through mobile apps, leading to significant penalties and asset seizures. Borrowers were harassed through threatening phone calls, unauthorized access to personal information, and circulation of morphed photographs.

In April 2022, the ED had taken action by attaching assets worth Rs 6.17 crore belonging to these fintech companies. This investigation highlights the need for stricter regulations and oversight in the fintech sector to protect consumers from predatory lending practices.

The ED has initiated investigations under various sections of the Indian Penal Code (IPC) and the Information Technology Act, 2000.

The ED investigation has also found that these Fintech companies get into the lending business after entering into agreements with non-banking finance companies (NBFC) which have valid RBI licences. The NBFCs themselves earn a guaranteed return without investing anything by virtue of just holding the licences.

Key Things to Keep in Mind While Taking a Two-Wheeler Loan

Two-wheelers are a popular choice for many. They offer a convenient and economical way to navigate daily life. A two-wheeler offers freedom for commuting, city traffic, or weekend rides. However, purchasing one often requires financial assistance. This is where a two-wheeler loan becomes essential. Before applying, it's important to consider these key points.

Assess Your Financial Capability

Before applying for a loan, assess your finances. Understand your income, current obligations, and how a new loan will fit into your budget. Avoid overextending your finances. Calculate how much you can repay each month without strain. This is crucial to avoid future financial stress.

Research Loan Options

Many lenders offer two-wheeler loans, each with different interest rates, tenures, and amounts. It's essential to research these options thoroughly. Compare offers and choose the one that fits your needs. Bajaj Markets, by Bajaj Finserv Direct Limited, lets you explore options like the Bajaj Auto Finance Two-wheeler Loan. The platform helps you compare and select the best option.

Understand the Interest Rates

A two-wheeler loan often involves costs beyond the interest rate. These include processing fees, prepayment charges, and late payment fees. It’s important to read the fine print and understand all charges. This helps avoid any surprises later. Bajaj Auto Finance Two-wheeler Loan is available on Bajaj Markets. It clearly outlines all costs, ensuring transparency.

Check Eligibility Criteria

Each lender has specific criteria for two-wheeler loans. These include age,efavoids potential rejections. Bajaj Markets provides detailed information on eligibility for Bajaj Auto Finance Two-wheeler Loan. This helps you determine your chances of approval.

Calculate the Loan Amount and Tenure

Determining the loan amount is crucial. Only borrow what you need, not the maximum offered by the lender. This ensures you don’t take on unnecessary debt. Also, choose a loan tenure that suits your repayment ability. A longer tenure may reduce your EMI but increase overall interest paid. A shorter tenure may lead to higher EMIs but helps you pay off the loan faster. Bajaj Markets offers tools like EMI calculators. These help you calculate the best loan amount and tenure for your situation.

Understand Additional Costs

A two-wheeler loan often involves costs beyond the interest rate. These include processing fees, prepayment charges, and late payment fees. It’s important to read the fine print and understand all charges. This helps avoid any surprises later. Bajaj Auto Finance Two-wheeler Loan is available on Bajaj Markets. It clearly outlines all costs, ensuring transparency.

Check the Documentation Requirements

Lenders require certain documents for processing a loan. These usually include proof of identity, income, residence, and the vehicle’s documents. Having these ready can speed up the approval process. Bajaj Markets provides a checklist of required documents. This includes those needed for the Bajaj Auto Finance Two-wheeler Loan. This helps you prepare in advance.

Read the Loan Agreement Carefully

The loan agreement is a binding document detailing all terms and conditions. It includes details such as the interest rate, EMI amount, and repayment schedule. Clauses affecting the loan during its tenure are also covered. If anything seems unclear, clarification from the lender may be needed. On Bajaj Markets, the agreement for Bajaj Auto Finance Two-wheeler Loan is straightforward and easy to understand.

Consider Prepayment Options

Prepayment allows you to pay off your loan before the tenure ends. Some lenders charge a penalty for prepayment, while others don’t. If you expect extra funds in the future, consider a loan with flexible prepayment options. This reduces your interest burden. Bajaj Markets provides information on prepayment policies for Bajaj Auto Finance Two-wheeler Loan. This allows you to make an informed decision.

Maintain a Good Credit Score

Your credit score is key when applying for a loan. A high score increases your chances of approval and may even get you a lower interest rate. Maintain a good credit score by paying bills on time and keeping your credit use low. Before applying for a loan, check your credit score and improve it if necessary. Bajaj Markets offers tools to check and monitor your credit score. This ensures you’re prepared when applying for Bajaj Auto Finance Two-wheeler Loan.

Conclusion

Taking a two-wheeler loan is a significant decision. It requires careful thought. By keeping these key points in mind, you can ensure a smooth process and avoid pitfalls. Bajaj Markets offers a range of options. Bajaj Markets provides various options, including competitive interest rates and flexible tenures. This financial marketplace by Bajaj Finserv Direct Limited ensures transparency in all terms. Explore Bajaj Auto Finance Two-wheeler Loan on Bajaj Markets. Take a step closer to owning your dream two-wheeler today.

Adani Green Energy Reportedly Seeking Rs 3,333 Crore Loan

Adani Green Energy, a part of Gautam Adani's Adani Group, is actively involved in green energy projects. According to a report by the Economic Times, the company is in advanced talks with Rabobank, MUFG, SMBC, and DBS to secure a massive loan of Rs 3,333 crore. The funds from this loan are intended for capital expenditure.

The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with a five-year tenor.

Additionally, Adani Green Energy plans to invest a total of ₹9,350 crore in its green unit. Half of the warrant proceeds (₹4,675 crore) will be used to repay loans and bonds, while the remaining balance will go towards renewable projects and ongoing expenses.

Furthermore, there are reports that Adani Green Energy is seeking an offshore loan of $400 million for its upcoming renewable projects. The Adani Group as a whole aims to invest about ₹2.3 lakh crore through 2030 in the country's renewable energy expansion and solar and wind manufacturing capacity.

Adani Green Energy plans to significantly expand its renewable energy capacity. This includes increasing the number of solar and wind power projects across India and potentially exploring other clean energy sources.

The involvement of international banks (Rabobank, MUFG, SMBC, and DBS) indicates potential strategic partnerships. These banks may offer expertise, global networks, and access to international markets.

Adani Green Energy has secured several significant loans in the past to support its renewable energy projects. Last year in December, Adani Green Energy obtained a massive $1.4 billion loan to finance the establishment of the world's largest renewable energy park.

Recently, in last month only, Adani Green Energy raised $409 million through an 18-year senior secured green bond. The bond garnered significant investor interest and was oversubscribed seven times. The company used the proceeds from this bond issuance to refinance its existing five-year bullet of $500 million senior secured notes due in 2024.

The successful bond issuance showed signs of investor confidence in Adani Green Energy.

Overall, the loans provided Adani Green Energy with the means to execute their strategic plans, manage debt, and position themselves as a major player in the green energy sector

Smart Borrowing: Tips for Optimizing Your Gold Loan Rate

When faced with financial challenges, leveraging assets like gold can be a strategic move to secure a loan. Gold loans offer quick and hassle-free financing solutions, but it's crucial to optimize your gold loan rate to ensure you get the best deal. Here are some smart borrowing tips to help you make the most of your gold assets.

1. Loan-to-Value Ratio (LTV):

One of the key factors influencing your gold loan rate is the Loan-to-Value ratio. LTV is the percentage of the market value of the gold that a lender is willing to offer as a loan. To optimize your gold loan rate, choose a lender that offers a higher LTV. It ensures you can borrow a larger sum while keeping the interest rate competitive.

2. Compare Interest Rates:

Just like any other loan, interest rates on gold loan at home can vary among lenders. Take the time to compare interest rates from different financial institutions. Look for lenders offering the lowest rates while ensuring they provide reliable and transparent services.

3. Loan Tenure:

The loan tenure also plays a crucial role in determining the overall cost of the gold loan. While short tenures may have higher monthly payments, they usually result in lower total interest payments. Evaluate your financial situation and opt for a loan tenure that aligns with your repayment capabilities, striking a balance between affordable monthly installments and minimizing interest payments.

4. Negotiate Processing Fees:

In addition to interest rates, pay attention to processing fees charged by lenders. These fees can add up and cause an impact on the overall cost of the loan. Negotiate with the lender to minimize or waive processing fees, especially if you have a good credit history or are a loyal customer. Some lenders may be willing to accommodate such requests to attract and retain customers.

5. Maintain Good Credit History:

While gold loans are secured by collateral, having a good credit history can still be advantageous. A positive credit history can help you negotiate better interest rates and terms. Lenders may view you as a lower-risk borrower, allowing you to secure a more favorable deal. Check your credit report and address any issues to maintain a healthy credit score.

6. Choose the Right Repayment Plan:

Lenders typically offer various repayment plans, including fixed and flexible options. Understand the terms of each plan and choose the one that goes with your financial goals. Flexible repayment plans can be particularly useful during times of income fluctuations, allowing you to adjust your payments accordingly.

Conclusion:

Optimizing your gold loan rate involves careful consideration of various factors, from the loan-to-value ratio to interest rates and repayment plans. By being proactive, conducting thorough research, and negotiating effectively, you can make the most of your gold assets and secure a loan that meets your financial needs without unnecessary costs. Remember that informed decisions lead to better financial outcomes, ensuring that your gold loan serves as a valuable resource in times of need.

Mahindra Lifespaces and Axis Bank Partner for Green Homes Loans at 0.25% Less Interest

Mahindra Lifespaces customers can avail loans at 0.25% lower rates for green projects.

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today, announced its partnership with Axis Bank, one of the largest private sector banks in India. Through this partnership, all Mahindra Lifespaces customers can now avail home loans at a competitive interest rate, which is 0.25% less than the standard home loan rates. Emphasising on the core values of this collaboration, the loan application and disbursal process will be seamless with reduced paperwork, to minimise paper wastage and ensure efficient document management.

Through this partnership, both the entities aim to encourage customers to choose sustainable housing projects and adopt eco-friendly practices in their day-to-day lives. Mahindra Lifespaces is deeply committed to promoting sustainability, driving positive environmental impact, and enabling customers to craft their lives more meaningfully with its business operations, while delivering value through innovative policies and product designs.

Vimalendra Singh, Chief Business Officer (Residential) - West, Mahindra Lifespace Developers Ltd. said, “We believe our partnership with Axis Bank will incentivise our customers to choose eco-friendly buildings, and reduce their carbon footprint while enjoying favorable interest rates. This also underscores our steadfast commitment to promoting sustainable development. As developers with a 100% green portfolio, and a standing commitment to build only Net-Zero homes from 2030, we fervently advocate environmental responsibility. Both our brands and their unwavering dedication to forging a brighter world for future generations, will deliver enhanced value to our customers.”

Sumit Bali, Group Executive and Head, Retail Banking, said, “With growing awareness, customers have become more conscious about the eco-system and are actively seeking financial solutions to reduce carbon footprint in their day-to-day lives. We are excited to partner with Mahindra Lifespaces, with whom we share a common vision of ushering customers towards an environment friendly lifestyle. By integrating innovative, eco-conscious practices, the two organisations are actively encouraging customers to embrace green homes with loans provided by Axis bank to build their dream abode and, contribute to a greener planet ’’

Axis Bank and Mahindra Lifespaces are fostering responsible home ownership and shaping a future where sustainability and financial choices go hand in hand. This initiative is set to pave the way for a brighter and greener tomorrow, urging customers to make conscious choices that benefit their families and the planet.

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 34.46 million sq. ft. of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.

Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

The first real estate company in India to have committed to the global Science Based Targets initiative (SBTi), all Mahindra Lifespaces’ projects are certified environment friendly. With a 100% Green portfolio since 2014, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. Mahindra Lifespaces® is the recipient of over 80 awards for its projects and ESG initiatives.

Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com

Arya.ag Launches Agri Loans on Blockchain

Revolutionary Initiative Ensures Accuracy, Trust, and Rapid Loan Disbursement in the Agri-Value Chain.

Arya.ag, India’s largest and only profitable grain commerce platform, has launched agri loans on the blockchain. Warehouse receipt loans disbursed on its fintech arm and NBFC, Aryadhan, shall be processed on its blockchain to offer users absolute trust and transparency.

Arya.ag has tokenised commodities stored in its warehouses, and this development now enables it to board its disbursements on the blockchain.

“Trust and transparency are key values for us at Arya.ag. Porting all disbursements on the blockchain while making payments in under five minutes will mark a significant leap in the efficiency of agri-lending services. The blockchain will ensure unprecedented visibility and assurance to control all physical risks in commodity storage and finance,” said Prasanna Rao, CEO of Arya.ag.

Partnering with 35 financial institutions, including banks and NBFCs, Arya.ag has emerged as a key player, managing 7.6 million tonnes of commodities with an AUM of 3 billion USD in the last financial year. “We look at collaborating with other lenders to move commodity-based warehouse-receipt financing onto the blockchain and improve the overall transparency, speed, and reliability of these transactions," said Rao.

Navigating the agricultural lending landscape presents a fundamental challenge of establishing trust between the lender and borrower. Arya.ag solves for this through its blockchain. Arya.ag stands as the trusted custodian for every token generated, safeguarding against duplicate pledges and ownership conflicts. Upon a pledge, a smart contract initiates, allowing banks to assign a distinct identifier for the token lien. This procedure guarantees the exclusivity of each pledge while offering banks a consolidated view on all pledged commodities.

Moving the lending process to a blockchain would not only expedite transactions but also significantly enhance security and trust among participants. The decentralised nature of blockchain ensures immutable record-keeping, making the data transparent yet secure and virtually tamper-proof, thereby reducing fraud and errors. Additionally, such a move would standardise procedures and documentation, facilitating smoother interactions among various stakeholders in the commodity trading and financing sectors.

Arya.ag collaborated with Newrl, a decentralised trust network blockchain to develop this infrastructure. For now, Arya.ag’s ledger has 3.2 million metric tons of commodities stored across 894 warehouses on the blockchain network. Through this initiative, Arya.ag is creating a world of faster, safer transactions not just for big business but, importantly, for smallholder farmers, too. This technology levels the playing field, giving them quicker, more secure access to the funds they need to thrive.

ABOUT ARYA.AG

Arya.ag, India's largest and fastest-growing integrated grain commerce platform, eliminates the trust deficit in the grain commerce value chain. Its disruptive integrated PAN India platform delivers value to all stakeholders by enabling access to high-quality produce, products, and services. Powered by an exponentially growing layer of visibility and control currently stretching across 425 districts in 21 states, 11000 warehouses, and USD 3 billion of grain, Arya.ag offers the assurance of quality supply to buyers and on-time fair payment for their produce and allied services to sellers. It seamlessly embeds finance to maximise value for both sellers and buyers, and the platform facilitates over USD 1.3 Bn of finance annually. More at www.arya.ag

Scheme To Extend MSME Loans/Credits To Artisans, Craftspeople Launching on Vishwakarma Jayanti

Now Artisans too can avail MSME loans: D. Chandrasekhar, ADC, Ministry of MSME, Govt of India.

PM Vishwakarma Kaushal Samman Scheme will be launched in Hyderabad and Warangal on 17th Sept: MSME Ministry Official

The PM Vishwakarma Kaushal Samman Scheme is expected to revive the rich Indian craft traditions and encourage the artisans to enrich the heritage, said – D. Chandrasekhar, Addl Development Commissioner, Ministry of MSME, Govt of India.

He was the chief guest at the Inauguration of the three-day Industrial & Engg Expo (Indexpo), supported by the MSME Ministry, Government of India with a focus on the future of manufacturing. The expo is currently underway till this Sunday.

Organised by Indore Infoline, it is their 7th edition.

It is supported by the MSME Ministry, NSIC Cherlapally Industries Association and other trade associations.

D. Chandrashekar ADC of MSME (Extreme Ieft in Jacket) Ministry Seen Inaugurating Indexpo

Speaking further the official said the PM Vishwakarma scheme aimed to provide credit to artisans and craftspeople is set to be launched by Prime Minister Narendra Modi in Delhi on the occasion of Vishwakarma Jayanti on September 17. It will be launched in Hyderabad and Warangal in Telangana by various Ministers and officials, he said. 

The scheme will extend loans of up to Rs 1 lakh to artisans at an incredibly low interest rate of 5%. This interest rate is significantly lower than prevailing market rates, enabling artisans to access credit without the burden of exorbitant interest charges.

Nearly three lakh artisans are said to be benefitted across India. In Telangana, a significant number of artisans are said to benefit in Telangana.

MSME has financed 57 exhibitors out of 100 to exhibit their products in the IndExpo. We plan to support 17 exhibitions every year, D. Chandrasekhar said.

Mr Raj Kumar Agrawal, MD of Indore Infoline, the organizer of the expo said IndExpo allows industry professionals and enthusiasts to explore the latest advancements and trends in the manufacturing industry.

The future of industrial engineering is designing and manufacturing more flexible, connected, and adaptable machines, said Mr Raj Kumar Agrawal.

The Indexpo aims to bring together leading players, manufacturers, suppliers’ experts, and innovators from the industrial manufacturing and service sector under one roof.

Industrial Safety Equipment Seen at INDEXPO at Hitex

The event is set to be a hub of knowledge-sharing, networking, and business growth.

100 Exhibitors are showcasing 20,000+ Products like Hand Tools, Machine Tools, Robotics, industrial automation, solar power plants, electricals and electronics, safety products and many other industry-specific products said Rajkumar Agrawal, Managing Director, Indore Infoline Pvt Ltd.

5 Important Features of Flexi Loans You Must Know

People often seek out a flexi loan due to its flexibility, which caters to the financial needs of individuals and businesses. Unlike traditional loans with fixed monthly instalments, a flexi loan allows borrowers to adjust their repayment schedules according to their cash flow and varying financial situations. This feature is valuable during times of economic uncertainty or unexpected expenses.

Borrowers can make extra repayments or withdraw any pre-paid amounts without incurring additional charges, reducing the overall interest burden. Moreover, the ability to pause or reduce payments temporarily, known as a payment holiday, provides added reassurance during periods of financial hardship. This adaptability and freedom to manage repayments according to individual circumstances make flexi loans attractive for those seeking financial stability and control.

A person looking for a flexi loan must know its features. Read on to learn more.

What is a Flexi Loan?

A flexi loan is a personal loan that gives borrowers a predetermined credit limit. Based on your credit profile, the lender offers a pre-approved cash limit as a credit line or overdraft facility. The interest rate for a loan is only charged on the used amount rather than the entire sanctioned amount.

With a flexi loan, you can repay the principal amount at your convenience. However, you are required to clear the interest every month. Moreover, if you have extra funds, you can make prepayments on the loan amount. These loans are available to both salaried and self-employed individuals, who are free to use the funds for various financial needs.

Features of a Flexi Loan

Flexi loans are ideal for individuals seeking a personal loan with a flexible repayment schedule. Here are some key features and advantages of a flexi personal loan:

1. Convenient Fund Access: With a flexi loan, borrowers can withdraw funds within the approved credit limit set by their lender.

2. Adaptable Repayment: Existing flexi loan borrowers can quickly repay the outstanding principal amount when they have surplus funds, according to convenience.

3. Multiple Withdrawals: Borrowers can withdraw within the approved credit limit without additional charges.

4. Reduced Interest Costs: Flexi loans offer an opportunity to save on interest payments. Lenders calculate interest only on the withdrawn amount until it is repaid rather than charging interest on the total sanctioned limit.

5. No Collateral: Compared to the traditional way of getting a loan, getting an online loan is much easier. That being said, there is no need for collateral or security for getting a flexi personal loan.

How to Apply for Flexi Loans?

Applying for a flexi personal loan typically involves several steps, including understanding the eligibility criteria and gathering the necessary documents. Below mentioned are a few points you can follow before applying for a flexi loan:

• Determine your Eligibility Criteria: Each lender has specific eligibility criteria that borrowers must meet. While these criteria may vary, some common factors include:
• Age: Generally, you must be at least 21.
• Income: Lenders often require a minimum income level to ensure you can repay the loan.
• Credit score: Your creditworthiness plays a crucial role in loan approval. Most lenders prefer a good credit score, although some may consider borrowers with lower scores.
• Employment status: Stable employment or a regular source of income is usually required.
• Research and Compare Lenders: Explore different lenders and their flexi loan offerings to find the one that suits your needs. Look for interest rates, loan amounts, repayment terms, and additional fees or charges.
• Gather the Required Documents: The documentation may vary depending on the loan provider. Mentioned below are some common documents required for a flexi loan application:
• Identification documents: Documents like valid government-issued identification, such as a passport or driver's license.
• Proof of income: Pay stubs, bank statements, or income tax returns to demonstrate your financial stability and repayment capacity.
• Employment details: Information about your employer, contact details, and duration of employment are a few details your should provide to your flexi loan provider.
• Address proof: Utility bills, rental agreements, or any other document that verifies your residential address.
• Bank statements: Typically, lenders require your recent bank statements to assess your financial health.
• Existing loan details: If you have any existing loans, you must provide complete information to the lender regarding the loan amount, outstanding balance and repayment history.

Preparing your Loan Application:

• Fill out the application form: Fill out the application form given by the lender, providing your complete and accurate information.
• Provide additional information: Some lenders may require further details, such as references or a personal statement explaining the purpose of the loan.
• Double-check your application: Ensure all the information is accurate and complete before applying.
• Submit Your Application: Through the lender's preferred method, submit your loan application. Be prepared to wait for the lender's decision, as processing your application may take some time.

Conclusion

Flexi loans offer borrowers a versatile and convenient financial solution that adapts to their ever-changing needs. With the flexibility to withdraw and repay funds as needed, you can easily manage your finances and navigate unforeseen expenses or opportunities. The customisable repayment options and interest-only payment periods provide additional flexibility, ensuring that individuals can tailor their loans to suit their needs. Whether for personal or business purposes, flexi loans empower borrowers to take control of their financial journey, making them a valuable tool in today's dynamic and evolving economy.

Flipkart Partners Axis Bank to Facilitate Digitally-enabled Personal Loans for Customers

Joins hands with Axis Bank, its first banking partner, to co-create a digitally-enabled personal loan offering for Flipkart’s customers

Customers can avail instant, end-to-end digital personal loans up to Rs 5 lakhs with loan approval within 30 seconds on Flipkart

The loan purchase option offers a high repayment cycle ranging from a period of 6 to 36 months

Flipkart, India’s homegrown e-commerce marketplace has entered into a strategic partnership with Axis Bank, one of the largest private sector banks, to facilitate personal loans for its valued customers, adding additional convenience and enhanced benefits to its 450 million customers. The newly introduced personal loan service offers highly competitive loan options, granting access to amounts as high as Rs 5 lakhs, allowing customers flexible repayment cycles ranging from 6 to 36 months. Flipkart’s introduction to personal loans demonstrates its commitment to addressing customers’ demands in today's financial environment and leveraging the potential of digital lending.

As Indian consumers continue to evolve, an increasing aspiration exists to enhance their lifestyles. Flipkart and Axis Bank have constantly innovated digital-first solutions to simplify customer journeys. The personal loan facility will empower customers with increased purchasing power and improve accessibility and affordability. Flipkart has made substantial commitments to create an extensive lineup of credit offerings and comprehensive financial solutions, including Pay Later, Product Financing, Seller Financing, Credit Cards, and an expansion into Personal Loans.

Dheeraj Aneja, Senior Vice President - Fintech and Payments Group at Flipkart, said, "Through strategic collaborations with leading banking institutions, we have successfully empowered our customers with a wide array of affordable payment options, including Buy Now Pay Later (BNPL), Equated Monthly Installments (EMI), and Co-branded Credit Cards. We are delighted to now introduce a Personal Loan service in partnership with Axis Bank. Our focus is to enable credit and enhance purchasing power by granting access to liquidity precisely when needed. These financial solutions cater to the evolving demands of consumers, offering greater flexibility and convenience throughout their purchasing journeys. Our commitment lies in reshaping the online shopping landscape, ensuring accessibility and inclusivity for all."

Speaking on this launch, Sameer Shetty, President & Head – Digital Business & Transformation, Axis Bank, said, "Axis Bank is a full suite financial solutions provider and we continue to build on innovation led partnership models with a commitment to drive access to formal credit in India with offerings that will benefit the customer the most. In this endeavour, we are pleased to partner with Flipkart, to provide unparalleled lending solutions to a wider spectrum of customers offering customised solutions that cater to the specific needs of users. Together, we are set to bring forth a new era of convenience and accessibility for customers.”

Customers can expect the approval process for their loans to be completed in a mere 30 seconds. To initiate their loan application, they must provide basic details such as PAN (Permanent Account Number), date of birth, and work details. Once these details are provided, Axis Bank will approve their loan limit. Customers can then select their preferred loan amount and repayment method, considering their comfortable monthly repayment capability. Flipkart will present a comprehensive loan summary, repayment details, and terms and conditions for review before finalising the loan application.

The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.

Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's digital commerce revolution, with a registered customer base of more than 450 million, offering over 150 million products across 80+ categories. Our efforts to democratize commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem, and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations have made online shopping more accessible and affordable for millions of Indians. Together with its group companies, Flipkart is committed to transforming commerce in India through technology.

For more information, please write to media@flipkart.com

Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. With its 4,903 domestic branches (including extension counters) and 15,953 ATMs across the country as on 31st March 2023, the network of Axis Bank spreads across 2,741 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.

For further information on Axis Bank, please refer to the website: https://www.axisbank.com

Instant Loan Against Mutual Funds Platform Volt Money Raises $1.5 Mn in Pre-Seed Led by Titan Capital and All In Capital

Volt Money, a leading platform for instant secured loans against mutual funds, has announced a pre-seed fundraising round of $1.5 million today. Using Volt Money, mutual fund investors can unlock cash in 10 minutes at favorable terms such as low interest rates, interest-only EMIs & no pre-payment charges. Volt Money is disrupting instant secured loans for 10 crore investors with 40 lakh crore investment to easily meet short-term cash requirements without compromising long-term financial goals.

The fundraising featured participation from numerous renowned investors including Titan Capital, All In Capital, Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, & Ashish Kehair & Rahul Jain from Nuvama Wealth. The funding will be strategically used to recruit key personnel for product development and to establish beneficial partnerships.

Lalit Bihani, Co-Founder & CEO of Volt Money, said, "We're at the cusp of disruption of instant secured loans in India. With the advanced digital infrastructures for KYC, account aggregator, and pledging capabilities, we're ideally positioned to seize a unique & very large opportunity. We're grateful for the trust our investors have placed in us."

Highlighting Volt Money's value proposition, Bipin Shah of Titan Capital noted, "Volt Money's innovative approach to offer seamless liquidity against financial savings is an essential service for today's investors. The early traction from customers and partners demonstrates a strong market fit for Volt Money's platform."

The Association of Mutual Funds in India (AMFI) indicates that 55% of mutual fund investments are liquidated within the first two years, robbing investors of the opportunity for compounding returns over time. Volt Money seeks to rectify this by offering attractive loan terms such as low interest rates, interest-only EMIs, and zero prepayment charges.

Volt Money is demonstrating industry leadership with its frictionless digital approach to securing loans against mutual funds. As Praveen Jadhav of Raise Ventures observes, "We recognize the immense potential of Volt Money's mission to empower 10 crore investors to obtain instant secured loans, setting the stage for long-term wealth creation. The experienced founding team at Volt Money brings a strong combination of skills and expertise to spearhead this innovation."

Volt Money's journey began in April 2022, led by Lalit Bihani, Ankit Agarwal and Bharat Lamba, three IIT Delhi graduates who have shared a friendship since 2008. In January 2023, they onboarded Bajaj Finserv Limited, India’s leading NBFC to launch a seamless digital journey for end-end process. Today, the company has successfully served customers across more than 80 cities with loans ranging from Rs. 25,000 to Rs. 2 Crores..

About Volt Money:

Volt Money is a visionary platform transforming the way instant and secured loans are provided against mutual funds and shares. The company collaborates with top-rated lenders and distribution partners to offer customers hassle-free, instant secured loans with favorable terms. Their mission is to empower 10 crore savvy investors to meet short-term cash needs without compromising on long-term goals.

For more information, please visit www.voltmoney.in

Fintech Platform Payworld Disburses Rs. 15+ Cr Loans to SMEs in Last 3 Months

PayWorld, one of Bharat’s leading fintech platforms, which is on a mission to bridge the Digital Financial Divide between India & Bharat facilitated loans worth 15+ Crores to Micro and Small enterprises (SME), in a span of just 3 months. These loans were given to retailers under PayWorld’s new scheme for Business Loans through its partners.

The brand in partnership launched this credit facility to support their retailers in expanding their businesses and strengthening their income. The loans were disbursed to around 3500 retailers associated with PayWorld. Uttar Pradesh, Bihar, Jharkhand, Rajasthan, Haryana, Gujrat, Madhya Pradesh, and West Bengal are among the states where most of the loans were disbursed. Typically, these small merchants find it difficult to secure loans from banks owing to a lack of collateral. Furthermore, transaction time in these cases is often lengthy, negating the benefit of timely disbursements. However, PayWorld was able to provide these merchants the benefit of their association and they could leverage the data and get these loans without any collateral and that too in a timely manner.

Talking about the loan disbursement, Mr. Amit Tyagi, CEO of, PayWorld mentioned, “We at PayWorld are working continuously towards financial inclusion in Bharat, through an array of financial solutions that aim at easing people’s life. With our new partnership-driven Business Loan facility, we are helping retailers who are new to credit or thin file bureau customers, expand their business by providing access to hassle-free loans. Over the years, there has been a surge in digital lending by fintech startups, who are using technology to make the application process completely paperless. With this scheme, PayWorld aims at assisting micro, small, and medium-sized businesses, as well as retailers, with short-term cash flow”.

About PayWorld

Payworld Digital Services Pvt Ltd is focused on bringing financial inclusion and wellness to all the citizens of Bharat. PayWorld is aligned towards building a Digital India by providing an array of online financial services like AePS, Aadhar Pay, Remittances, Recharges, CMS & Digi Gold among others. Incepted in the year 2006 the company has a strong distribution presence in India, with close to 1 million+ banking points spread throughout 720 districts and 28 states.

PayWorld through its wholly owned subsidiary; Smart Payment Solutions Pvt Ltd holds a perpetual PPI license from RBI. Smart Payment is one of the select non-banking entities to have the ability to perform an eKYC from UIDAI. PayWorld aims to drive financial wellness by empowering MSMEs and providing them with easy access to various financial solutions.

LoanTap Collaborates with udChalo to Provide Quick Financial Aid to Defence Personnel

udChalo and LoanTap's partnership simplifies the loan process for serving army personnel

LoanTap, a leading digital lending platform, has announced a collaboration with udChalo to offer quick and accessible financial aid to defence personnel. As part of this partnership, LoanTap will provide flexible loan options to udChalo's customers, with a seamless digital application process requiring minimum documentation of only KYC and income details. Defence personnel, including new-to-credit customers, can apply for loans, provided they meet the minimum eligibility criteria of being at least 19 years old and having a monthly salary of over Rs. 25,000.

udChalo is a leading consumer technology company catering to the armed forces and their dependents. With the vision of ‘Making life simple for soldiers’, udChalo offers travel, housing, financial services, consumer electronics, and utility bill payment facility for its user base. The collaboration with LoanTap is aimed at extending its services by enabling additional financial support to udChalo's customers during emergencies, allowing them and their families to feel more financially secure.

Satyam Kumar, CEO & Cofounder of LoanTap said, "Through our partnership with udChalo, we are excited to support the financial needs of our defence personnel, who have dedicated their lives to serving our country. Our platform's digital and hassle-free loan application process, coupled with flexible loan options, aims to provide financial aid to defence personnel quickly and efficiently. We are honoured to work with udChalo towards our shared goal of making life simpler for our soldiers.”

Commenting on this partnership, Mr. Ravi Kumar, Founder and CEO udChalo said, " udChalo was conceived to serve our soldiers and in our mission to simplify their lives we have been continually introducing more products and services that can support and uplift their daily course. Our collaboration with LoanTap is another step in this direction that allows us to provide easier access to credit to our servicemen. We are certain it will ease their financial woes by providing needful assistance without going through tedious procedures or extra fees.”

By working extensively for the army fraternity udChalo, over the years has created a unique and loyal customer base from the Indian armed forces and dependents of ‘Fauji Family who prefer its services for their requirements. It was one of the leading start-ups honoured with the national start-up Award 2021 and ranked 4th at the Economic Times ET Rise awards among India’s Fastest Growing MSME 2021

LoanTap's seamless digital loan application process and flexible loan options with lower interest rates and processing fees make it an attractive choice for defence personnel in need of quick financial aid. The collaboration with udChalo is expected to bring further benefits to defence personnel and their families, helping them achieve their financial goals with ease.

About LoanTap

LoanTap is one of the fastest-growing & trusted FinTech companies in the category with its in-house RBI-registered NBFC led by experienced leadership and a highly skilled team. LoanTap focuses on customer delight by helping them choose the best loan products from a portfolio of multiple products like personal loans, business loans, home loans, gold loans, loans against mutual funds plus many use-case loans.

LoanTap has had a successful year expanding its distribution and Afterpay network in various sectors. Looking towards the future, LoanTap’s goal is to make credit more accessible to over 4 lakh merchants through their Afterpay network this year. LoanTap plan to achieve this goal by utilizing LTFLoW, their innovative Lendtech platform. LTFLoW allows to establishment a roadmap towards profitable growth while creating a resilient digital lending ecosystem. With its anchor-led distribution stack, a marketplace for capital coverage, and in-house NBFC, users of LTFLoW can continue to create innovative products and expand their reach.

Website Link - https://loantap.in/

In A 2nd Largest Globally, SBI Concludes $1 Billion Syndicated Social Loan

• SBI concluded its largest inaugural Syndicated Social loan of $1 billion ($500 Mio + greenshoe of $500 Mio).
• The deal is the largest ESG loan by a commercial bank in the Asia Pacific and the second largest social loan globally.
• The issuance witnessed overwhelming participation from banks across Taiwan, Japan, China, and the Middle East ensuring a full subscription, including USD 500 Mio of the greenshoe option.

Country’s largest commercial bank, the State Bank of India (SBI) has announced the completion of a $1 billion Syndicated Social Loan Facility. This syndicated transaction is significant for SBI and the Indian ESG financing market since it is the largest ESG loan by a commercial bank in the Asia Pacific and the second-largest social loan globally. Additionally, this is the bank's inaugural social loan and the first syndicated loan in the past five years.

The facility of $1 billion was arranged through MLABs, MUFG Bank, and Taipei Fubon Commercial Bank Co. Ltd. MUFG and Taipei Fubon Commercial Bank are Joint Social Loan Coordinators while MUFG is the Lead Social Loan Coordinator for this transaction.

On the occasion, Mr. Dinesh Khara, Chairman, SBI said, “As a responsible and sustainable organization, we are committed to conducting our business operations with the highest standards of Environmental, Social, and Governance (ESG) practices. Issuance of our first social loan is an embodiment of our commitment to ESG driven by our belief that our long-term success depends not only on our financial performance but also on our ability to make a positive impact on the environment, on society, and on our stakeholders."

This inaugural ESG transaction underscores SBI’s longstanding commitment to supporting green and social projects in India.

State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of over 30 lakh Indian families. The home loan portfolio of the bank has crossed Rs. 6.00 lakh crore. As on December 31, 2022, the bank has a deposit base of over Rs. 42.13 lakh crore with CASA ratio of 44.48% and advances of more than Rs. 31 lakh crore. SBI commands a market share of 33.3% and 19.4% in home loans and auto loans respectively.

SBI has the largest network of 22,381 branches and 65,650 ATMs / ADWMs in India with 70,258 BC outlets. The number of customers using internet banking and mobile banking stand at 111 million and 58 million respectively. With SBI’s digital strategy right on track – the bank witnessed 64% of new savings accounts opened through the integrated digital and lifestyle platform YONO in FY22.

SBI observed 22,120 new digital savings bank accounts being opened per day via YONO in the quarter ended December 2022. YONO, which has more than 5.75 crore registered users, witnessed more than 1 crore average daily logins in Q3 FY23. In terms of digital lending, the bank disbursed pre-approved personal loans worth Rs. 5,050 crore through YONO in the same period. SBI also has the highest number of followers on Facebook and Twitter amongst all banks worldwide.

Paytm disburses 3.4 million loans, total merchant subscription devices cross 5.1 million in Oct, Vijay Shekhar Sharma writes to shareholders

Paytm disburses 3.4 million loans, total merchant subscription devices cross 5.1 million in Oct, Vijay Shekhar Sharma writes to shareholders, says co is building a scalable and profitable financial services business

• Lending business is now at an annualised run rate of ₹37,000 crore
• User engagement is at its highest with MTU at 84 million
• Recently, co had posted a 76% y-o-y growth in revenue to ₹1,914 crore

One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that in October it disbursed 3.4 million loans, y-o-y growth of 161%. The value of total loans disbursed in October grew to ₹3,056 Cr ($407 million, y-o-y growth of 387%).

Paytm’s leadership in offline payments strengthened further with its total merchant subscription devices deployed increasing to 5.1 million. With its subscription as a service model, the strong adoption of devices drives higher payment volumes, and subscription revenues, while increasing the funnel for merchant loan distribution.

Paytm had recently said in its earnings release, “Merchant subscriptions is an attractive profit pool for us, driving higher payment volumes, subscription revenues as well as merchant loan distribution.”

The company’s user engagement too was at its highest with its average monthly transacting users for October at 84 million, registering a growth of 33% y-o-y. This reflects the fact that more and more people are using the Paytm app.

The company’s founder and CEO Vijay Shekhar Sharma wrote a letter to shareholders as Paytm is close to one year of listing. Sharma further said that the company is aware of the expectations that Paytm carries, and they are on the path to profitability and free cash flows. “Our journey to build a scalable and profitable financial services business has just started,” he wrote.

Paytm in its recently announced Q2 FY23 financials had posted a 76% y-o-y growth in revenue to ₹1,914 crore. Meanwhile, the company’s losses reduced by 11% on a sequential basis. The company’s ​​contribution profit surged 224% y-o-y to Rs 843 crore. Talking about the company’s growth in the last quarter he wrote, “After our recent quarterly reports which showed strong operating leverage and reduction in EBITDA losses, we are now excited about the next year of our journey, as we get close to EBITDA profitability and free cash flow generation.”

Over the years, Paytm has become synonymous with mobile payments and is a pioneer for QR code-based payments. “In the past ten years, we have embedded our solutions to the last mile - digitising money and enabling small aspirational merchants, artisans, and solution providers to tap into the world of infinite possibilities,” he wrote.

Sharma further wrote that the payment revolution continues in India, with merchants and users enthusiastically adopting digital payment technology. The government incentives to UPI payments and merchants’ adoption of our devices and subscription product, is making payments increasingly monetizable and profitable for the company.


Talking about the company’s rapidly growing lending business which is now at an annualised run rate of ₹37,000 crore in the month of October, Sharma said, “In parallel, we are now scaling up lending distribution which can bring financial inclusion to hundreds of millions of people in our country. Due to the huge demand for lending in our country, our low penetration and the compounding nature of our lending journey, we are extremely optimistic about the prospects of our lending business.”

For October, the total merchant GMV processed through Paytm aggregated to Rs 1.18 Lac Cr ($14 billion), marking a y-o-y growth of 42%, partly due to the festive season. “In our payments business, we continue to focus on profitable revenue and hence continue to optimize for profitable GMV,” said the company in the release.

About Paytm:

Paytm is India's payment Super App offering consumers and merchants most comprehensive payment services. Pioneer of mobile QR payments revolution in India, Paytm’s mission is to bring half a billion Indians into the mainstream economy through technology-led financial services. Paytm enables commerce for small merchants and distributes various financial services offerings to its consumers and merchants in partnership with financial institutions.

Top 5 Benefits of An Instant Loan from Paysense Partners

These days, instant personal loans are quite popular among working professionals and self-employed persons. It is a short-term personal loan having no restrictions on end-use. This means you can use it to fulfil any of your personal and financial needs. Paysense partners are involved in offering this loan. Mentioned below are the advantages of the Paysense personal loan offered by them.

5 Advantages offered by Paysense Partners Instant Loan

Following are the benefits of instant loan from Paysense Partners:

• Affordable interest rates
  
  Loan repayment comprises interest rates that applicants must decide before a personal loan transaction takes place. An instant short-term Paysense personal loan lessens the problem of paying high-interest rates. Thus, you will get a reasonable Paysense interest rate.
  
  In addition, your chances of getting loan approval will increase considerably when you retain a healthy credit score. Hence, you must pay your dues to have a proper credit score.
• Collateral free credit
  
  Personal loans are unsecured and do not require collateral. You will receive sufficient funds to fulfil your financial and personal needs without having to collateralize property or assets. Therefore, Paysense personal loan is much easier to achieve in comparison to a secured loan. Lenders will ensure that you get the credit amount without keeping any mortgage. Thus, a personal loan is more convenient and straightforward.
• Flexibility
  
  While opting for a personal loan, you will get the flexibility of using the credit amount in the way you want. Furthermore, these loans have no end-use restriction. Thus, it is a great financing option for almost everyone.
• Minimal documentation
  
  While opting for the Paysense personal loan, applicants can avoid the time-consuming documentation involved while borrowing a loan. This loan offers an adequate portion of credit and less amount of paperwork. All you have to do is to visit the lender’s website, check the essential documents, and upload them accurately. In general, it includes identity proof, income proof, and address proof.
• Quick process
  
  You can easily opt for a personal loan due to its fast application and approval process. Being unsecured, a personal loan does not require collateral from you. To apply for this loan, you have to simply visit the lender's website, check the guidelines, upload the necessary documents, and wait until its approval. Usually, your loan will be approved within 24 or 48 hours.
  
  
• Helps during emergency
  
  No one can tell when you will come across an emergency. Hence, it is vital to be prepared. However, some situations destroy all your plans and preparations. Under such circumstances, you can opt for a personal loan from Paysense to meet any emergency expenses.

Eligibility Criteria for a Paysense Personal Loan

Following are the eligibility criteria for a Paysense personal loan:

• The borrower must be an Indian citizen
• Must be salaried or self-employed
• The age range must be between 21 years and 70 years
• The salary must be Rs. 18,000 and Rs 20,000 per month for salaried and self-employed persons respectively.
• Should keep a CIBIL score of 750 or more

Documents Required for a Paysense Personal Loan

Following are the list of documents required for a personal loan:

• For salaried persons
• Photo identity proof (comprises PAN card, passport, Aadhaar card, driving license)
• Address proof (comprises ration card, Aadhaar card, driving license)
• Income proof (includes salary slips for last 3 months and bank statements for last 6 months)
• Residence ownership proof (includes property documents, electricity bill)
• Job continuity proof (employment certificate, job appointment letter)
• Proof of investment (includes fixed deposits, shares, and fixed assets)

For self-employed persons

• Identity proof (comprises PAN card, Aadhaar card, passport, voter ID card, or drivinglicense)
• Address proof (comprises Aadhaar card, driving license, or ration card)
• Proof of ownership of residence (contains property documents, maintenance bill, electricity bill)
• Office address proof (includes property documents, electricity bill, etc.)
• Proof of office ownership (consists of property papers, maintenance bill and more)
• Business existence proof (includes registration licence, commencement certificate, and more)
• Income proof (includes Income Tax returns, audit report, balance sheet, and more)
• Bank statement (includes savings and recent bank statement)

How to Apply for a Paysense Personal Loan?

Following are the steps to apply for a Paysense personal loan:

Step 1: Visit the website and click on ‘Apply Now’ option

Step 2: Check the terms and eligibility

Step 3: Check interest rates and other charges

Step 4: Compute the EMI

Step 5: Fill out the application form

Step 6: Upload the required documents

Step 7: Wait for approval

These days, the Paysense personal loan has become an ideal financial instrument that helps many working professionals. If you want to take this loan, make sure you go through all of its necessary terms and guidelines, as well as the documents necessary before applying for it.

Alternative Data and Emerging Technologies Will Drive Credit Decisioning in the Consumer Credit Market: Experian Study

Alternative data and emerging technologies will drive credit decisioning in the consumer credit market: Experian study

A new study on credit decisioning and alternative data use reveals interesting insights about the consumer credit landscape in India.

As India’s economy recovers from the pandemic, businesses continue to be impacted and consumers continue to grapple with the aftermath of salary cuts and job losses. As consumers apply for credit cards and loans to manage costs, lending institutions have the added responsibility of making accurate credit decisions. According to a commissioned study conducted by Forrester Consulting on behalf of Experian, the world’s leading global information services company, nearly 65% of India’s lending companies surveyed said that the wrong credit decision can lead to financial losses, while 44% said that such decisions can put customers in difficult situations.

As lending organisations continue to strive to improve their credit decisioning processes, the study highlighted the need to focus on leveraging alternative data and emerging technologies. The study surveyed 164 senior risk decision-makers from banking, fintech, and non-banking lending organisations across India, Indonesia, and Australia.

The Forrester study also highlighted several key trends across the India market for lenders:

1. Innovation and data utilisation – the key to better lending

According to the study, around 82% of respondents believed that their organisation needs to improve the use of data and insights in business decision-making. Also, around 71% wanted their organisation to improve its ability to innovate. These numbers highlight the fact that most respondents believed that there is room for improvement in using data and analytics for credit decision-making.

According to a World Bank report, India has the world’s second-largest unbanked population after China. Neeraj Dhawan, Country Manager, Experian India, says: “As banks, NBFCs and fintech companies attempt to drive financial inclusion, the use of alternative data can help lenders assess the creditworthiness of new-to-credit customers more efficiently. This can result in better access to quick credit and help transform lives.

2. Embrace new technologies and improve data analytics capabilities

The study found that around 82% of respondents felt that their organisation should leverage more data from traditional sources and 80% believed that it should look for alternative data sources for more efficient credit risk assessment. These numbers indicate that employees feel that their organisation is not utilising available data optimally.

Further, around 82% of respondents felt that they could improve data and analytics capabilities, and nearly 84% felt that there was an urgent need to embrace emerging technologies like artificial intelligence for credit risk assessment and management.

Unfortunately, only 36% of respondents felt that limited data standardisation was a major barrier to increasing automation in credit decisioning for lending organisations. Also, 66% felt that legacy systems and dependence on manual processes were preventing organisations from turning to automation.

Mr Dhawan adds: "Lenders need to have more streamlined usage of data between traditional credit data and alternate data sources whilst embracing emerging technologies throughout the entire credit lifecycle. This approach can help businesses in driving higher customer acquisition and provide a better overall digital experience.”

3. For effective credit decisions, choosing the right data is crucial

42% of respondents believe that their organisation is using alternative lending data to make effective credit decisions. While the use of alternate data in credit decisioning is still gradually being adopted, there are positive signs that this is picking up, with around 67% of respondents feeling that investing in real-time data and analytics will be the top priority of their organisation over the next 1-3 years.

4. Automation – a long way to go

The study highlighted how automation is being used in credit decisioning across various lending products:

• Credit Cards:
• Full automation: 42%
• Partial automation: 58%
• Personal Loans:
• Full automation: 40%
• Partial automation: 58%
• Full automation in Other Loans:
• Auto Loans: 31%
• MSME Loans: 22%
• Home Loans: 16%

Neeraj Dhawan, Country Manager, Experian India, says, “Automation can shorten the sales cycle and improve the quality of service offered to customers, and should be a priority for businesses to stay competitive in the current credit landscape.”

Download the Forrester study, “Drive Speed and Accuracy with Emerging Technology and Alternative Data”, to find out more. https://www.experian.in/experian-forrester-study-on-credit-decisioning-and-alternative-data-use