#Mera Loan Mobile App

[techsamvad]

#TechSamvadGameChangers: Top 10 Startups in India's FinTech World (2020)

This time at TechSamvad Game Changers, we bring to you information about some of the best startups related to the FinTech world of the country. 

Let us tell you that FinTech Inc of India has reported a total funding of about $ 1.47 billion in the first half of the year 2020. And interestingly, this figure is almost 60% higher than the previous year i.e. first half of 2019.

According to the Global Fintech Festival Report from July 2020, between March and June in the year 2020, around 68 FinTech Startups received investment. And this data clearly shows how the popularity of FinTech world is increasing in the last country.

In such a situation, today we are going to introduce you to some such start-ups of the country who are providing equally technology-based financing services not only in the metros but also in all the small to big areas of the country.

#TechSamvadGameChangers: Top 10 Indian FinTech Startups 2020

1. SalaryDost

Mumbai-based SalaryDost actually offers a great credit scoring system, which helps in super customer profiling. And at the same time, their mobile-based application helps customers to get a loan in the blink of an eye. 

According to the company, they started this to bridge the gap between the finance sector and customers, thereby promoting an open banking loan option.

The company was started in the year 2018 by Mrityunjay Shahi, Manish Shukla and Ashok Choudhary. SalaryDost has also partnered with Singapore-based AI company, CredoLab. 

CredoLab provides an AI based credit scoring solution, in effect. Salarydost uses proprietary algorithms and artificial intelligence techniques to assess any risk factors.

Meanwhile, the company also expanded its online lending platform and is now offering various types of loans in the market.

2. Paisa Dukan

This platform, named Paisa Dukan, offers its customers the best possible loan using technology. Also, making this process transparent, it is also moving ahead as a great platform to borrow money.

The Peer to Peer (P2P) marketplace is becoming even more interesting with the growing Internet. And according to the company, this will benefit both lending and borrowing classes. 

PaisaDukan was established in November 2017 as a peer-to-peer lending platform. It was founded in Mumbai by Rajiv M Ranjan and its parent company BigWin Infotech.

PaisaDukan's business model is based on the peer-to-peer lending marketplace, where it handles servicing of loans on behalf of both the lending and lending segments. 

On PaisaDukan you get the facility to take a loan ranging from ₹ 5,000 to ₹ 10,00,000. The company's mission is to facilitate business opportunities for all in the peer-to-peer marketplace or business sector.

3. PayMe India

PayMe India was founded in 2016 by Mahesh Shukla and Sandeep Singh Singh. The startup offers 'Advance' salary options to financially salaried people for a short time. Actually PayMe India has created a special loan program for corporate employees.

This Noida-based startup, under its Corporate Cash Advance Loan Program, allows employees working in its partner organizations to borrow up to 50% of their monthly income, which they have to pay from the next month's salary.

This startup has also acquired the NBFC certificate, which means that now this startup also offers you secure and unsecured financial products such as personal loans, business loans, education loans, credit cards etc. service etc. for short duration.

4. Jai Kisan

Founded in 2017 by Texas A&M University alumni Arjun Ahluwalia and Adriel Maniego, Jai Kisan is building a full-stack fintech platform to meet the financial needs of customers in emerging markets in rural India.

In the last six months, it has provided more than Rs 50 crore of top credit quality loans in a variety of sets to 5,500+ borrowers from different income groups in 10 states of the country.

Let us tell you, this Mumbai based rural fintech startup has also raised Rs 30 crore in a pre-series round from Arkam Ventures and NABVENTURES Fund I on 16 June 2020.

5. INDwealth

Founded in the year 2018 by Ashish Kashyap, Pratiksha Dake and Varun Bhatia, INDwealth provides services as a personal financial advisory agent, offering advice on asset classes, loans and loan management.

The platform enables consumers to manage and track their funds investment, loans, expenses and loans and in turn also advises them with the help of machine learning to improve their financial future and cash flow.

The first version of this platform app was launched in April 2019. The platform has also registered itself as certified "Wealth Advisors". Its

Also, this Gurugram based company has launched a web application as Wealth Advisor, which provides interaction and feedback etc. between clients and consultants.

6. GramCover

Noida based GramCover is a technology enabled insurance platform for rural India. It is building an ecosystem for distribution of a wide range of insurance products, including crop products, livestock, health, motor, life and property insurance, which cater to the critical needs of rural India.

Actually do you know that according to the rules, insurance is mandatory for any farmer taking a bank loan, and because of this, most farmers in the country do not take loans. 

In such a situation, GramCover opens new doors of possibilities for them by providing them with various insurance options.

Let us tell you that GramCover was founded by Jatin Singh, who also launched its earlier private weather company Skymet. Meanwhile, GramCover claims that it is becoming the preferred choice among insurers to reach rural India. 

Over 1.3 million Indian farmers have so far purchased insurance through GramCover.

7. Aye Finance

Aye Finance provides customer focused financial services for micro and small businesses. It has more than 100 branches operating in 11 states across India, operating primarily in sectors such as manufacturing, trade and service groups.

It was founded by Sanjay Sharma and Vikram Jetley. Interestingly, it has also received investment from MSME loan provider Google's private equity fund CapitalG.

Since its inception in 2014, Aye Finance has claimed to provide $ 410 million worth of credit / loans to over 1,96,000 grassroots businesses. The startup is said to have an active customer base of over 1,30,000, and manages assets up to Rs 1,500 crore.

8. GroMo

Gurugram-based GroMo is a truly technology-enabled 'social commerce platform' that offers consumers a range of financial products such as loans, insurance and investments through its GroMo Partners.

Currently GroMo claims to provide loan and insurance services on its platform. GroMo was founded by 3 alumni of IIT Delhi, Ankit Khandelwal, Darpan Khurana and Arpit Khandelwal.

GroMo actually provides additional earning avenues to chartered accountants, property dealers, travel agents and even students by joining them as partners and helping them grow as micro-entrepreneurs.

9. Mera Cashier

Noida based fintech startup Mera Cashier was founded in 2019 by Suneel Kumar, Sucharita Reddy, Gaurav Tomar and Akhilesh Nigam. This startup allows small and micro businesses to digitally manage their credit transactions on their phones through the digital features of books, registers, etc. in an Android app.

The app includes basic management features such as managing customers and their transactions, giving micro-businesses an opportunity to use their data to grow their businesses efficiently.

Let me tell you that the list of investors of this startup includes many big names like Bollywood singer Sukhbir Singh. In simple language, with the help of data science, this platform serves to digitize traditional methods for small traders.

10. Recko

Bengaluru based Recko is a fintech startup that provides AI based solutions for digital transactions. Recko, founded in 2017, has touched $ 5 billion in transactions so far. The startup has created a SaaS-based financial product that helps organizations track full transaction cycles and commercial contracts.

According to the company, founded by Prashant Border and Saurya Prakash Sinha, its client list includes companies from many different sectors, such as Grofers, Meesho, Dunzo etc. According to Recko, it is looking to touch $ 10 billion in transactions by the end of 2020.

[soorasaab]

ICICI Bank on Tuesday announced a new mobile banking app that is aimed at rural customers in an effort to promote rural digitisation. The app, called Mera iMobile, will allow users in rural areas to access banking services as well as information on agri services. The app can also be used by non-ICICI Bank customers as well.

The Mera iMobile app provides around 135 services, available in English and 11 Indian languages including Assamese, Bengali, Gujarati, Hindi, Kannada, Malayalam, Marathi, Odia, Punjabi, Tamil, and Telugu. Some of the services that can be availed include Kisan Credit Card, Gold Loan, Farm Equipment Loan and Loans to Self-Help Groups (SHGs). The main aim of these services is to save time and cost to personally visit the branch. Around 14 frequently used banking services can also be accessed without mobile Internet connectivity.

Additionally, the Mera iMobile app is also the first to provide agriculture related information like crop-wise mandi prices of nearly 230 crop varieties across 460 mandis. The app also offers taluka-wise weather updates over 300 districts so that farmers can plan out their sowing and harvesting activities according to the weather.

Chanda Kochhar, MD & CEO, ICICI Bank said, "With the new 'Mera iMobile', we will offer our rural and semi-urban customers a unique and unparalleled experience in their interactions with the bank. 'Mera iMobile' is a result of extensive research and has evolved into the country's first comprehensive offering for rural customers on smartphone with 135 services and in eleven Indian languages. It enables any user, even if they are not ICICI Bank customers, to download the app and get access to agri-related advisory on mandi prices and weather. These aid in saving time and effort of travel to the branch and the mandi for various services. We believe this app will resonate with the needs of the rural customers and aim to have over half a million downloads in the next six months."

Since the app is specifically designed for rural and semi-urban areas, ICICI Bank has made sure that app is lightweight so that it can be downloaded and used even under low Internet speeds. Furthermore, the Bank will introduce 'Wi-Fi enabled posters' across 700 rural and semi-urban branches to help users download the app.

The Mera iMobile app can be downloaded from Google Play store for Android users. The Bank also says that new app is a marked improvement over the SMS Banking services available in feature phones. ICICI Bank says it expects to reach over half a million downloads in the next six months. The Bank also aims to transform 100 villages into 'ICICI Digital Villages' in the coming days to promote India's recent shift towards embracing digital transactions.

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[competitiveguide]

Current Affairs Headlines of 12th March 2017

→ 3,500-year-old mass burial ground unearthed in Tirupati. → 53 Indian fishermen set released by Sri Lankan govt as goodwill gesture. → A South African man Chris Bertish has become the first person to cross the Atlantic Ocean on a stand-up paddleboard after completing an epic 4,050-mile voyage alone at sea. → Arunachal Pradesh adopts private member resolution to formulate policy on teachers. → Bharatiya Mahila Bank offers loans to 1,000 women entrepreneurs on Women‘s day. → Bitcoin plunges 25% in a day after hitting all-time high. → Dangal wins Viewer‘s Choice Best Film at Zee Cine Awards. → EU decide to create headquarters for military training. → Following TN, Coca-Cola and Pepsi products to be banned by Kerala traders. → Ford Foundation appoints Pradeep Nair as regional director for India, Nepal, and Sri Lanka. → Goa CM Parsekar resigns after loss from Mandrem seat. → Google acquires Kaggle for undisclosed amount to boost data play. → Haryana CM announce about opening of All India Institute of Ayurveda, Yoga  &  Naturopathy in state. → Himachal launches mobile app ‘Mera Hunar HP‘ for job-seeker. → IBM Researchers Creates World’s Smallest Magnet to Store Single Bit Data. → Iceland became world‘s 1st country to make firms to prove equal pay. → India successfully test fires supersonic cruise missile BrahMos. → India‘s 1st AC rail ambulance launched at Mumbai. → India‘s industrial output rises 2.7% in January. → India‘s largest waste-to-power plant opened at Narela-Bawana in New Delhi. → India‘s UN Women Goodwill Ambassador Aishwaryaa Dhanush performs Bharatanatyam at UN. More Current Affairs Headlines of 12th March 2017  - http://ift.tt/2myMfLe

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