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The crisis in the gig economy: Fintech startup Bon Credit throws a funding lifeline to thousands

The gig economy has a vast, growing footprint in India. It’s creating jobs for millions, but working capital is still a big stumbling block for most gig workers. A fintech startup, Bon Credit, is fighting it out with a nifty business model.
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debleena-majumdar
16 Aug 2019 10 Mins Read 4 comments
A recruitment camp at the Pandit Deendayal Upadhyay Rozgar Melava 2019 for 10th and 12th standard pass-outs and ITI diploma holder youths at the Maulana Abdul Kalam Azad Research Centre in Aurangabad. BCCL
A recruitment camp at the Pandit Deendayal Upadhyay Rozgar Melava 2019 for 10th and 12th standard pass-outs and ITI diploma holder youths at the Maulana Abdul Kalam Azad Research Centre in Aurangabad.
A resident of Etawah in Uttar Pradesh, Satyapal Singh migrated to Noida in 2008 to provide for his family. After sundry jobs for a few years, he became a driver for a manufacturing company in 2016, earning close to INR10,000 a week. While it was much better than his earlier shop-floor job, income was patchy, making it difficult for Singh
Satyapal Singh is one of the top users of Bon Credit’s services. Most of his transactions are at petrol pumps. He plans his expenses carefully and fills just enough petrol required for the next two rides. If the gig were a game, he has found the rules to play it, on his own terms. ( Graphics by Abdul Shafiq)
A resident of Etawah in Uttar Pradesh, Satyapal Singh migrated to Noida in 2008 to provide for his family. After sundry jobs for a few years, he became a driver for a manufacturing company in 2016, earning close to INR10,000 a week. While it was much better than his earlier shop-floor job, income was patchy, making it difficult for Singh Satyapal Singh is one of the top users of Bon Credit’s services. Most of his transactions are at petrol pumps. He plans his expenses carefully and fills just enough petrol required for the next two rides. If the gig were a game, he has found the rules to play it, on his own terms. ( Graphics by Abdul Shafiq)

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user Debleena Majumdar Kahaniyah, Mergers and Acquisitions Writer at ET Prime, Write on mergers and Acquisitions as well as on Education

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