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ADARSH PATNAIK

|| ICFAI Business Sc... • 9m

Hello people, I'm thinking to launch a financial product where the Pan shops, super markets, Kirana shops, cloth retailers... etc can give credit for the products they sold to the known and to the trust customers without any hesitation. Through Imp

Anonymous 1

Hey I am on Medial • 9m

I actually love the concept but see regulatory nightmares ahead. The moment you formalize credit issuance, you're potentially stepping into RBI territory. Will shopkeepers need to register as NBFCs? How will you handle KYC requirements? What about disputes and consumer protection? These informal credit arrangements currently exist in a gray area, but an app would bring scrutiny. I'd strongly suggest getting regulatory clarity before investing too much in development.

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ADARSH PATNAIK

|| ICFAI Business Sc... • 9m

How it would be if just to create an application, as like it just reminds the Shop keepers and a customers, the balance amounts to be payed. At the end of the shopkeeper will take a risk by giving the trusted one a credit. By the app would be a gateway for the payment remainders without any hesitation to the known one?

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