BHARATPE NBFC LOANS

According to the founders of several of these lending platforms, given that the Reserve Bank of India is scrutinising the sector, they are adopting a “wait-and-watch” policy before stitching these deep integrations. P2P platforms LenDenClub and Liqu...

Rajnish Kumar of BharatPe says "UNO, owned by a bank with good governance, follows design principles for security and compliance. Fintechs, without a banking license, need self-regulation. Responsible behavior is crucial in the payment ecosystem to ...

Large NBFCs like Aditya Birla Finance and Poonawalla Fincorp have informed the fintech startups they do business with that they will no longer provide capital for the highly risky buy-now-pay-later (BNPL) and very small ticket size consumer loans.

In a pointer to tough times ahead, fintechs are finding credit lines for small-ticket unsecured loans drying up following a recent central bank diktat.

The new risk weightage norm is not a big challenge for Unity as we don’t have a big legacy book. But it will put a little deterrent to market players because 25% higher risk weightage always forces a rethink in the way business is done. At Unity, we...

Negi’s comments come at a time when BharatPe’s parent, Resilient Innovations, has filed a fresh case in the Delhi High Court seeking an injunction against Grover to prevent him from divulging “confidential information” related to the company.

This comes as the company has been looking to rekindle its relationship with Unity Bank after a tumultuous period marked by the departure of BharatPe cofounder Ashneer Grover last year, and the subsequent efforts to strengthen the board and corporat...

Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines.

For Slice, which has been running as a non-banking finance company for the last four years, the option was to either convert itself into a bank by applying for a fresh licence or acquire one (after crossing the five-year mark as an NBFC).

Bahl played a crucial role in the restructuring of the organisation post the exit of Grover. He had joined the company in 2020 as the head of operations Before joining BharatPe, he worked across organizations such as Airtel Payments Bank, Paytm Bank...

An NBFC licence would allow fintechs to offer loans from their own books, thereby build an asset base. Without this licence, they remain confined as marketplaces to source loans for banks and other NBFCs.

ET has learnt that sellers need to apply to the central bank saying that they intend to transfer the licence to the acquirer’s name.

After its planned acquisition of ZestMoney fell through, PhonePe is focussing on merchant lending. After a pilot with some 20,000 disbursed loans, it is now going live for its entire merchant base.

In a major change to its lending strategy, Cred plans to cater to consumers who are new to credit and have never taken any formal credit in the past, two sources in the know told ET

NBFC arm GetGrowth Capital will run the lending operations for GetVantage and dole out financing to small and medium enterprises and new economy businesses.

Electric two-wheeler sales took a beating in April, according to data from Vahan, a government database that tracks vehicle registrations, and compiled by Elara Capital.

BharatPe’s investment in an NBFC comes at a time when several fintechs are looking at bolstering their presence in the segment.

"Post a successful FY22 that we closed with a 3 times growth in merchant loans, 2.5 times growth in payments and a 4 times jump in revenue, BharatPe has recorded its' best ever quarter in Q1, FY23," said Suhail Sameer, CEO, BharatPe.

Earlier this year, BharatPe had raised over Rs 300 crore from venture debt funds (Alteria Capital, InnoVen Capital and Trifecta Capital), banks (ICICI Bank and Axis Bank) and NBFC (Northern Arc Capital).