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Slice giving loans upto ₹5 lakh under new project: Sources
Inshorts
·
1y ago
Medial
Bengaluru-based fintech unicorn slice is piloting a new lending product under the name 'slice personal loan', under which users can avail a loan of up to ₹5 lakh for a tenure of 5 years (60 months), sources told Inc42. Currently, the product is being offered only to select users, the sources added.
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Related News
Exclusive: slice Doubles Down On Its Lending Play; Pilots Personal Loans Of Up To INR 5 Lakh
Inc42
·
1y ago
Medial
Slice, a fintech startup, is testing a new lending product called "slice personal loan." This product allows users to borrow up to INR 5 Lakh for a period of 5 years. While currently available to a limited number of users, slice plans to expand the offering to more customers in the near future. In a recent funding round, slice secured $20 million in debt funding from Neo Asset Management's Credit Opportunities Fund.
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Budget 2024-25: Central Government Doubles Limit Of MUDRA Loans To INR 20 Lakh
Inc42
·
1y ago
Medial
The Pradhan Mantri MUDRA Yojana (PMMY) will increase the loan limit to INR 20 Lakh from INR 10 Lakh. This increase applies to entrepreneurs who have previously applied for and repaid loans under the TARUN category of the MUDRA loan, which offers loans between INR 5 Lakh and INR 10 Lakh.
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Easy Home Finance secures $35 million from Claypond Capital, others
Economic Times
·
9m ago
Medial
Easy Home Finance, a home financing startup, has raised $35 million in a funding round led by Claypond Capital and Sumitomo Mitsui Banking Corporation's Asia Rising Fund. The company aims to cater to the segment of the population in India that needs home loans between Rs 10 lakh and Rs 50 lakh. With the new funds, Easy Home Finance plans to expand its assets under management to $300 million and increase its presence to 150 locations. The company utilizes digital data and government sources for efficient loan processes and offers instant sanctions through its app.
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Fibe launches rooftop solar financing solution, partners with 100 solar EPC firms
Economic Times
·
1m ago
Medial
Fibe has entered the green energy sector with a new rooftop solar financing solution to make clean energy accessible to middle-income households. Partnering with over 100 solar installation EPC companies across India, Fibe offers collateral-free loans up to Rs 5 lakh to cover project costs, including panel and installation expenses. This initiative aims to overcome financial barriers to solar adoption, particularly in Tier-II and III cities, supporting the government's solar energy objectives.
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Adani Group’s Super App Rolls Out Digital Lending Pilots With Fintechs, NBFCs
Inc42
·
1y ago
Medial
The Adani Group has launched a pilot project on its superapp Adani One in collaboration with digital lending firms and NBFCs. Adani Digital Labs, a digital arm of Adani Enterprises, has partnered with KrazyBee Services, a NBFC arm of digital lending firm KreditBee, to provide personal loans. Adani Digital will serve as a lending service provider while KrazyBee will handle the loan disbursement ranging from INR 1,000 to INR 5 lakh.
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slice Ropes In Former Kotak Executive Arvind Kathpalia As Chief Risk Advisor
Inc42
·
1y ago
Medial
Fintech unicorn slice has appointed Arvind Kathpalia, the group president and chief risk officer at Kotak Mahindra Bank, as its chief risk advisor. This comes after the Competition Commission of India approved the merger of slice with North East Small Finance Bank. In his new role, Kathpalia will focus on providing risk advisory and enhancing the risk management systems during the merger process. Slice, formerly known as slicepay, initially operated as a buy now, pay later platform before pivoting to offer personal loans and UPI payment services.
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Startup India: 1.14 Lakh Startups Have Created Over 12 Lakh Jobs So Far
Inc42
·
1y ago
Medial
According to a report by the Ministry of Finance, over 1.14 lakh startups recognized by the Indian government under the Startup India initiative have created more than 12 lakh jobs as of October 2023. The report also highlights that 2.1 lakh loans were disbursed under the initiative, with 84% of those loans sanctioned to women entrepreneurs. The report mentions the state-backed Open Network for Digital Commerce (ONDC), which recorded over 63 lakh transactions until November 2023. The report also mentions the challenges posed by artificial intelligence (AI) on employment.
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BharatPe co-founder Ashneer Grover set to re-enter fintech with ZeroPe app
Money Control
·
1y ago
Medial
Ashneer Grover, co-founder and former managing director of BharatPe, is re-entering the fintech industry with a new app, ZeroPe. Developed by his company Third Unicorn, ZeroPe is currently in testing and aims to provide instant pre-approved medical loans up to Rs 5 lakh. These loans are offered in partnership with Delhi-based NBFC Mukut Finvest and are available at partnered hospitals.
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‘Supervisory concerns': RBI bars New India Co-operative Bank from fresh business, customers can’t withdraw deposits
Business Today
·
5m ago
Medial
The Reserve Bank of India (RBI) has imposed restrictions on New India Co-operative Bank due to liquidity issues and supervisory concerns. Effective February 13, 2025, the bank is barred from granting new loans, accepting new deposits, or allowing withdrawals for six months. Eligible depositors can claim up to Rs 5 lakh in deposit insurance. The bank posted losses of Rs 22.78 crore in FY24. Similar restrictions on Kotak Mahindra Bank were previously lifted after compliance.
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Indian banks to ask regulator to not raise provisioning for infra loans
Money Control
·
1y ago
Medial
The Indian Banks' Association (IBA) plans to ask the Reserve Bank of India (RBI) not to increase provisioning for infrastructure project loans. The RBI recently proposed a sharp increase in the amount of capital that banks and non-banking financial companies should set aside for such loans. The IBA argues that this blanket 5% provisioning requirement would increase the cost of implementing projects and hurt project financing. It suggests that additional provisioning requirements should be brought in only in case of delays in project completion. The IBA is expected to send a formal request to the RBI before the deadline of June 15th.
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