SlicePay, founded by Rajan Bajaj ('14), working to provide micro loans to those who need them
Business Standard (May 20, 2019)
Start-ups are tapping some of the youngest loan seekers in the country--college students and young graduates looking for pocket money. The segment largely remained out of the purview of both formal banking and shadow banking sector.
In the last three to four years, several start-ups have started offering instant micro loans ranging from Rs 200 to Rs 10,000, and sometimes even more, to students and recent graduates, who don't have any stable flow of income.
Using technology and analysing spending patterns and demographic profile, these new-age financial firms are able to make the business model viable, keeping the delinquencies low and margins stable. (Read More)