Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
True Balance, a Fintech app operated by Balancehero India (a wholly-owned subsidiary of Balancehero, Korea), has crossed 40,000 consistent daily loan disbursements across India.
“We started seeing a consistent closure of more than 40,000 loan disbursals since mid-November, and we have seen that this has been a stable-rising trend,” said Charlie Lee, Co-Founder and CEO of True Balance.
“Our research shows that small ticket size loans is where the biggest requirement from India’s new-to-credit lies. These people have high demand but mostly are uncredited because of no prior credit history. Going forward, we are going to stretch into more rural area through our digital touchpoints for overall services other than loans, like UPI, EMI, insurance and provide a complete financial benefits,” he added.
For the firm, Uttar Pradesh is the top revenue generating state for loan products and Hyderabad for instant cash loans.
The company’s instant cash loans, launched in September 2019, and personal loans, have seen 2-3 fold growth since launch.
At present, instant cash loans stand at more than 10,000 transactions a day and across these two products, the company’s average ticket size in India is about ₹500-7,000.
True Balance, which launched e-commerce operations in July 2019 by selling handsets, now intend to expand it by offering a wide range of handsets (such as Xiaomi, Vivo, Oppo, iPhone and feature phones), mobile accessories (power banks, audio equipment), appliances (desk fan, lantern) among others, it added.
Last October, True Balance’s lending arm, TrueCredits received its NBFC license and renewal of PPI license for three years from Reserve Bank of India.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
With initial public offerings galore, we give you a cheat sheet to score some good grades
Biggest risk in selling funds in a rising scenario is exiting early and missing out on further gains
Go for a standard vector-borne diseases policy if you don’t have a regular health plan
No credit risk is an attraction, but note the nuances
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
While Supreme Court has cleared the way for women seeking longer tenures and senior roles in the Indian Army, ...
Mughal Gardens in the Capital open to visitors — albeit with Covid-19 protocol — for the annual Udyanotsav
Salty, buttery, cheese coated or with maple syrup and bacon — popcorn is lending its adaptable self to gourmet ...
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor