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The introduction of OCEN has inspired lenders to create innovative financial credit products at scale, aimed at benefitting the SME Sector that largely contributes to the nation’s GDP. An opportunity that has presented itself in this field is the shifting of SME financing from collateral or asset-based lending to a cash-flow based lending approach. FinTechs currently hold the power to further this method of lending through a modernized digital approach, find out how:
The Indian Credit Market is highly volatile and the country is currently facing an incredibly low credit to GDP ratio. It has a very high ratio of gross non-performing assets (GNPA) to total assets and is also facing a historically low loan recovery percentage. Despite this situation, many sectors around the country are claiming resurgence. However, a deeper analysis of the patterns over a longer time reveals that these sectors experiencing significant credit growth have routinely experienced subsequent growth slowdowns as ‘rapid credit booms have been followed quickly by busts.’
With financial institutions constantly expanding their reach, the issuing of different and newer forms of credit became a necessity. In an effort to become popular among customers, advantages were given to those seeking this credit in the form of non conventional or targeted loans. Two- wheeler loans are one such example where, as the name specifies, are loans disbursed for a specific end-use. The loans are applicable to all segments of two-wheeler vehicles, ranging from scooters to motorcycles.