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Private sector lender CSB Bank is targeting a 32 percent growth in the small and medium enterprises (SME) segment business for financial year (FY) 2023-24, said Shyam Mani, Group Head, SME. Mani said that after a RBI directive, banks increased their risk weight on personal and other loans. Hence, banks will go aggressive and see tight competition in lending to SMEs. https://lnkd.in/d9fudv3S

Transforming Indian Lending with Instant Unsecured Credit for MSMEs 🚀 Micro, Small, and Medium Enterprises (MSMEs) are vital to India’s economy, significantly contributing to employment, GDP, and exports. Despite their importance, MSMEs often struggle to access timely and adequate credit due to stringent collateral requirements and lengthy approval processes. Trade Finance India is addressing these challenges by providing instant unsecured credit, revolutionising the Indian lending landscape and empowering these businesses to thrive. ✅ Addressing the Credit Gap Traditional banks in India often fail to meet the unique needs of MSMEs, relying heavily on collateral-based lending and bureaucratic procedures. TradeFinanceIndia.com disrupts this model by offering unsecured credit, removing the need for collateral and making the lending process more accessible to small business owners. ✅Speedy Approval and Disbursement TradeFinanceIndia.com standout feature is its rapid credit approval and disbursement. Unlike traditional loans that can take weeks or months to process, the company uses advanced technology and data analytics to approve loans within minutes, ensuring MSMEs receive the funds they need when they need them most. ✅Leveraging Technology Central to TradeFinanceIndia.com innovative approach is its robust technological infrastructure. The company employs cutting-edge algorithms and artificial intelligence to assess creditworthiness based on a range of data points, including cash flow, transaction history, and market conditions. ✅Customised Financial Solutions Understanding that each MSME has unique needs, TradeFinanceIndia.com offers tailored financial solutions, including working capital loans, invoice financing, and supply chain finance. This diverse product range ensures businesses can find the right financial support to grow and operate effectively, particularly benefiting those in niche markets or with seasonal cash flow variations. ✅Promoting Financial Inclusion By offering unsecured credit, TradeFinanceIndia.com enhances financial inclusion in India. Many MSMEs, especially in rural or semi-urban areas, have historically been excluded from formal financial systems due to a lack of collateral and credit history. TradeFinanceIndia.com innovative approach ensures these enterprises can access the credit they need, promoting economic development and job creation in underserved regions. ✅Building Trust and Credibility In a sector where trust is crucial, TradeFinanceIndia.com has established itself as a reliable partner for MSMEs. The company’s transparent processes, competitive interest rates, and customer-centric approach have earned it a strong reputation. MSME Business Forum India FEDERATION OF INDIAN EXPORT ORGANISATIONS FICCI Digital Lenders Association of India (DLAI) Ministry of Micro, Small and Medium Enterprises, Government of India Visit TradeFinanceIndia.com #msme #loan #export #import #business #businessloan

🏆 **Digido Shines at Gazet International #GlobalAwards 2024! 🌟** We are thrilled to announce that #Digido has clinched an impressive five award titles at the prestigious Gazet International #Global Annual Awards 2024. Recognized for excellence in digital lending and customer-centric financial solutions, Digido has once again reaffirmed its position as a leader in the Philippine fintech industry. Here's a roundup of the accolades received: 1. **Best Digital Lending Firm Philippines 2024** 2. **Most Customer-Friendly Financial Solutions Philippines 2024** 3. **Most Innovative Digital Lending App Philippines 2024** 4. **Best Digital Loan App Philippines 2024** 5. **Best Digital Lending Platform Philippines 2024** These awards stand as a testament to Digido's unwavering commitment to promoting transformative financial inclusion through AI-powered personal credit services. Spearheaded by Kevin S., Head of Strategic Communications and Public Relations, Asia-Pacific, Digido Finance Corp., team has worked tirelessly to address the critical need for accessible and convenient credit solutions for Filipinos. Digido's innovative lending solutions, available through their user-friendly mobile application and website, have revolutionized the way Filipinos access credit. With features like the First Loan For Free service and tailored loan terms, They ensure flexibility and convenience for borrowers, empowering them to navigate their financial journeys with ease. Powered by cutting-edge AI technology, Digido employs rigorous yet seamless identity verification processes to safeguard against fraud, providing customers with a secure lending experience. Their in-house scoring models analyze over 20,000 indicators, ensuring accurate and reliable borrower assessments. Moreover, Their strategic partnerships with industry leaders such as GCash (Mynt - Globe Fintech Innovations, Inc.), Lazada, and Dragonpay Corporation have expanded the reach of their digital ecosystem, offering clients multiple channels for loan payments and applications. In FY 2023, Digido witnessed remarkable growth, with a net profit of USD 4.7 million and over 1.2 million loans disbursed. With a focus on client acquisition and repayment channels, They continue to enhance their services to meet the evolving needs of their customers. As they embark on the journey ahead, Digido remains committed to innovation, sustainability, and financial inclusion. Their vision is to redefine the landscape of digital lending in the Philippines, empowering individuals to achieve their financial goals and contribute to the country's wider digital transformation. Join us in celebrating this momentous achievement and stay tuned for more groundbreaking initiatives from Digido! #Digido #GazetInternationalGlobalAwards #DigitalLending #FinancialInclusion #FintechExcellence 🚀📱💰

Can you imagine loans disbursed by Indian Fintech? Digital lenders have seen a 27% year-on-year growth in loan disbursements, reaching Rs 37,686 crore, according to data from the Fintech Association for Consumer Empowerment. Despite a slight seasonal decline, the number of loans grew by 15%, indicating strong demand for digital credit. Dr. Syed Hasan #fintech #finance #digitalpayments

SMEs… the backbone of any economy. SMEs foster jobs and wealth creation, innovation, competition, positive disruption, inclusiveness, societal and environmental development. Together with respective governments, Banks play a significant role in enabling growth in this segment. SMEs can be a very significant source of New to Bank acquisitions. Both Digital and Universal Banks support SMEs via financing, cashflow, business advisory and other peripheral services (eg Employee Banking and MPF (for HK)). With innovations in digital processing, IoT, Big Data and AI, we can look to more accurate risk management, greater client coverage (including sole proprietors), shorter onboarding and credit approvals timelines. This in turn opens up new opportunities for insurance / Bancassurance, which is still relatively under-penetrated. Think about it... the corporate customer segment is the only segment that cuts across Mass, Mass Affluent, HNW and UHNW individuals, as well as small, medium enterprises and large corporate entities. Whilst most banks only focus on each customer segment separately, most try to bridge between retail and UHNW individual segments, but synergising with SME Banking is still rare to see. Both SG and HK have streamlined regulations and open up economies focusing on core industries, trade and connectivity, capital access, foreign investments, whilst developing / attracting skilled workforce. Banks that can synergise SME segment growth across their Individual segment coverage will have a strong advantage to HUNT and FARM BOTH of these corporate and individual relationships. I’ve come to respect the Bankers from the SME segment as some of the most technical, commercial minded, practical and driven individuals. Likewise, Business Insurance Specialists in this area needs to be conversant in the technicalities of business continuity and risk management, Life and GI, as well as individual needs across the wealth spectrum to have the flexibility to cut across industries, customer segments, and be able to support/partner with these SME experts to structure solutions for their customers. Investing in this Segment, and setting ambitious Bancassurance aspirations, will guarantee manifold returns, not just in terms of increased customer engagement and acquisition, but also strengthening of relationships across all customer spectrums. Key is execution. And in turn, this supports a healthy social inclusion, economic growth, an innovative landscape and positive wealth progression in each country, whilst shaping the future and growth in the region. #SMEBanking; #Bancassurance, #Caproasia

Hong Kong Monetary Authority (HKMA) introduced 9 measures to support Small & Medium-sized Enterprises (SMEs) in Hong Kong: 1) Do not demand early repayments from mortgage borrowers who make payments on schedule, 2) At least 6 months for credit limit adjustments including changes to collateral value, 3) Expedite applications for 80% & 90% guarantee products, 4) Apply pre-approved principal payment holiday scheme to support SMEs with difficulties, 5) More credit products & support services, 6) Lower interest charges & fees, 7) HKMA will create dedicated webpage on SME lending services by banks, 8) Banks to assist clients to switch banks, and 9) Banking associations to arrange meetings between banks & SMEs to enhance services.  Read - https://lnkd.in/gqJEj8P6 follow Caproasia | Driving the future of Asia The Hong Kong Monetary Authority (HKMA) has introduced 9 measures to support Small & Medium-sized Enterprises (SMEs) in Hong Kong: 1) Do not demand early repayments from mortgage borrowers who make payments on schedule, 2) At least 6 months for credit limit adjustments including changes to collateral value, 3) Expedite applications for 80% & 90% guarantee products, 4) Apply pre-approved principal payment holiday scheme to support SMEs with difficulties, 5) More credit products & support services, 6) Lower interest charges & fees, 7) HKMA will create dedicated webpage on SME lending services by banks, 8) Banks to assist clients to switch banks, and 9) Banking associations to arrange meetings between banks & SMEs to enhance services.  HKMA (28/3/24): “The Hong Kong Monetary Authority (HKMA), together with the Banking Sector SME Lending Coordination Mechanism (Mechanism), announced today (28 March) a series of measures to assist small and medium-sized enterprises (SMEs) in obtaining financing from banks and to support their continuous development.  SMEs are the bedrock of the Hong Kong economy and an important customer segment for banks. In 2023, the 11 participating banks in the Mechanism together approved over 110,000 loans to SMEs, involving an aggregate facility limit of over HK$450 billion.  Although the local economy has been recovering gradually, some SMEs are still facing challenges in their operations. Taking into account the views of the commercial sectors, the Mechanism decided to launch the following nine measures to assist SMEs in navigating a complex and ever-changing operating environment and to increase their bargaining power relative to banks.”

Digital lenders disbursed 2.64 Cr loans in QI FY25, average ticket size declines: Report India's digital lending landscape witnessed a surge in Ql FY25, with digital lenders disbursing a staggering 2.64 crore loans worth Rs 37,676 crore, underscoring the high demand for instant, small-ticket credit and cementing the sector's role as a key driver of financial inclusion. Story by Anushka Sengupta Fintech Association for Consumer Empowerment (FACE) #DigitalLending #FintechGrowth #FinancialInclusion #CreditExpansion #HealthInsuranceReforms #SmallTicketLoans #BFSI #ETBFSI https://lnkd.in/gayxpmA7

📣 P2P Lending Platforms Seek Regulatory Relaxation from RBI As the Reserve Bank of India (RBI) tightens regulations on peer-to-peer (P2P) lending platforms to enhance transparency and compliance, industry members are planning to request amendments. The new T+1 rule, which mandates that funds in escrow accounts be cleared within a day, is deemed too stringent by P2P platforms. 🔍 Key Concerns: 🔹 T+1 Rule: Platforms argue that the T+1 timeline is impractical due to the time required for reconciliation and cash flow identification. 🔹 Proposed Change: The Association of P2P Lending Platforms intends to propose a T+2 or T+3 timeline to the RBI for more flexibility. 🔹 Industry Feedback: The association is collecting feedback and plans to approach the RBI by the end of this week. 📊 Industry Overview: 🔹 The P2P lending industry in India is estimated at ₹7,000-8,000 crore, with around 20 registered platforms. 🔹 The new rules are designed to prevent P2P platforms from operating as virtual deposit-taking entities. 💡 Expert Insight: While the RBI’s intention to protect lenders’ funds is a positive step, the P2P industry believes more time is needed to ensure smooth operations without compromising on compliance. Stay tuned for updates as the industry seeks a balanced approach to regulation. #P2PLending #Fintech #RBI #DigitalFinance #Regulation #NBFC #Investment #Compliance #BankingInnovation #FinancialInclusion #BFSI #FEBFSI #ModernBFSI Sachin Kumar | Sumana Sarkar | E Kumar Sharma | Roshun Povaiah | Financial Express (India) | Faircent | Lendbox | MobiKwik Xtra | Finzy | CRED Mint | Fello| IndiaP2P | I-Lend India | LenDenClub | i2ifunding |

NBFC stands for Non-Banking Financial Company. NBFCs are financial institutions that offer banking services without meeting the legal definition of a bank. They are registered under the Companies Act, 2013 or earlier acts and are regulated by the Reserve Bank of India (RBI) in India. Here are some key points about NBFCs: 1. Services: NBFCs provide a range of financial services, including loans and advances, asset financing, investment in stocks and shares, and other related services. 2. Regulation: While NBFCs are not allowed to accept demand deposits like traditional banks, they can provide credit facilities, offer loans, and invest in various financial products. They must adhere to RBI regulations concerning capital adequacy, liquidity norms, and other prudential norms. 3. Types: There are various types of NBFCs based on their activities, such as asset finance company, investment company, loan company, infrastructure finance company, and more. 4. Importance: NBFCs play a crucial role in the financial system by catering to the credit needs of sectors and segments not adequately served by traditional banks. They contribute to financial inclusion and promote competition in the financial sector. 5. Challenges: Like any financial institution, NBFCs face challenges related to credit risk, liquidity management, regulatory compliance, and market dynamics. The health and stability of NBFCs can impact the overall financial system, making their regulation and supervision crucial. 6. Difference from Banks: Unlike banks, NBFCs cannot issue cheques drawn on themselves, and deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not available for depositors of NBFCs, which makes them riskier compared to banks. 7. Growth: Over the years, the NBFC sector in India has witnessed significant growth, diversification, and consolidation. They have played a pivotal role in supporting economic activities, particularly in sectors like microfinance, housing finance, and vehicle financing. It's essential to differentiate between NBFCs and traditional banks due to their distinct regulatory framework, services, and risk profile. Investors, borrowers, and other stakeholders should understand these differences when engaging with NBFCs or considering their services. #banking

Hong Kong Monetary Authority (HKMA) introduced 9 measures to support Small & Medium-sized Enterprises (SMEs) in Hong Kong: 1) Do not demand early repayments from mortgage borrowers who make payments on schedule, 2) At least 6 months for credit limit adjustments including changes to collateral value, 3) Expedite applications for 80% & 90% guarantee products, 4) Apply pre-approved principal payment holiday scheme to support SMEs with difficulties, 5) More credit products & support services, 6) Lower interest charges & fees, 7) HKMA will create dedicated webpage on SME lending services by banks, 8) Banks to assist clients to switch banks, and 9) Banking associations to arrange meetings between banks & SMEs to enhance services. Read - https://lnkd.in/gZbzMMxM follow Caproasia | Driving the future of Asia The Hong Kong Monetary Authority (HKMA) has introduced 9 measures to support Small & Medium-sized Enterprises (SMEs) in Hong Kong: 1) Do not demand early repayments from mortgage borrowers who make payments on schedule, 2) At least 6 months for credit limit adjustments including changes to collateral value, 3) Expedite applications for 80% & 90% guarantee products, 4) Apply pre-approved principal payment holiday scheme to support SMEs with difficulties, 5) More credit products & support services, 6) Lower interest charges & fees, 7) HKMA will create dedicated webpage on SME lending services by banks, 8) Banks to assist clients to switch banks, and 9) Banking associations to arrange meetings between banks & SMEs to enhance services. HKMA (28/3/24): “The Hong Kong Monetary Authority (HKMA), together with the Banking Sector SME Lending Coordination Mechanism (Mechanism), announced today (28 March) a series of measures to assist small and medium-sized enterprises (SMEs) in obtaining financing from banks and to support their continuous development.  SMEs are the bedrock of the Hong Kong economy and an important customer segment for banks. In 2023, the 11 participating banks in the Mechanism together approved over 110,000 loans to SMEs, involving an aggregate facility limit of over HK$450 billion.  Although the local economy has been recovering gradually, some SMEs are still facing challenges in their operations. Taking into account the views of the commercial sectors, the Mechanism decided to launch the following nine measures to assist SMEs in navigating a complex and ever-changing operating environment and to increase their bargaining power relative to banks.”