geo/india
SMEs in India have an option when it comes to securing loans to support their businesses. India's Kinara Capital, a Financial Inclusion Challenge 2017 finalist, uses cash-flow analysis, supply-chain references and psychometric testing to offer loans to small- and medium-sized enterprises without traditional collateral.
ICICI Bank Ltd., India’s largest private sector bank by consolidated assets, announced the launch of a unique mobile banking app for rural customers that allow them to access banking services as well as information on agri services. Anyone including non-ICICI Bank customers can also download and use the app which is available in eleven Indian languages, the statement released by the bank said.
The SME Finance Forum is hosting a two-session webinar series on Data Analytics. Increasingly, the use and analysis of data are critical for banks to improve efficiency, reduce risk, increase profitability, and retain customers. In these series, we will look at how banks and financial institutions can use big data and advanced analytics to make smarter decisions in SME banking.
Data Analytics Session #1: Using alternative data and new-gen analytics model for enabling SME lending in India
Fintech that boosts retail and MSME book expansion through its technology platform Jocata GRID that provides real-time data acquisition, smart underwriting and best in-class customer experience.
Washington, D.C., September 12th, 2019 – ESAF Small Finance Bank became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
The Indian School of Business (ISB) and Goldman Sachs on Monday announced the launch of the Goldman Sachs 10,000 Women Ambassadors Programme to help fuel the continued growth of India’s economy through the acceleration of women-owned businesses.
Article via The Tribune India.
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Among the leading fintech companies that are performing well in India are Paypal, PhonePe, Paytm, Google Pay. Trading companies like Share Khan and Money Control too have a large presence in the market.
For India to gain double digit growth figures going forward, its micro, small and medium enterprises (MSMEs) will have a prominent role to play in employment generation, exports, skilling and making the sector more formalised. MSMEs contribute 33% to India’s GDP and employ 11.7 crore people (that is 40% of India’s workforce). This snapshot of a panel discussion with four leading FinTech startup founders by Nisha Ramchandani of Outreach at Axilor Ventures.
EnKash, a two year old card focused fintech startup, has announced the launch of Corporate Credit Card for SMEs/MSMEs and startup, called the Freedom card. The Freedom card would give the SME’s and startups the freedom to avail credit facility for immediate needs and to manage their financial liquidity.
