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Lending

Chinese fintech players want to do a Xiaomi in lending. Caution: regulatory glare ahead

From adopting unique business models to routing investments through Singapore, Chinese lenders are trying every trick in the book to win the Indian fintech-lending space. But getting money to India, deploying it, and dealing with stringent KYC norms is easier said than done.
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artisingh
7 Nov 2019 10 Mins Read 5 comments
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Cashmama, LendKaro, LendingAdda. Typical Indian startups that did not linger over giving an alluring name, one would convincingly conclude after taking a cursory glance at them. Their easy-to-use mobile apps can solve all problems that’s cash – medical emergency to mobile top-up to a short weekend getaway. But the Indian connection ends there. For, they belong to a bunch
online-lending platforms. India is the new battleground for these lenders. These companies are becoming bigger than some of the established NBFCs, chomping away at the market share. But the dizzying pace at which they are entering the country could lead to regulatory actions in no time. Till then it’s an open ground. ( Graphics by Sadhana Saxena)
Cashmama, LendKaro, LendingAdda. Typical Indian startups that did not linger over giving an alluring name, one would convincingly conclude after taking a cursory glance at them. Their easy-to-use mobile apps can solve all problems that’s cash – medical emergency to mobile top-up to a short weekend getaway. But the Indian connection ends there. For, they belong to a bunch online-lending platforms. India is the new battleground for these lenders. These companies are becoming bigger than some of the established NBFCs, chomping away at the market share. But the dizzying pace at which they are entering the country could lead to regulatory actions in no time. Till then it’s an open ground. ( Graphics by Sadhana Saxena)

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