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Latest & Breaking News Today, Events, Updated Information on Personal & Cash Loan
<!DOCTYPE html><html lang="en" class="__variable_7f3cdd"><head><meta charSet="utf-8"/><link rel="preload" as="font" href="/_next/static/media/08f6869de032d726-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="preload" as="font" href="/_next/static/media/562f9e66ce415c97-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="preload" as="font" href="/_next/static/media/964da666ccb1de0d-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="preload" as="font" href="/_next/static/media/e05068a1c6e286d3-s.p.woff2" crossorigin="" type="font/woff2"/><link rel="stylesheet" href="/_next/static/css/4441f79fa265f85e.css" data-precedence="next"/><meta name="next-size-adjust"/><meta name="google-site-verification" content="qwvdfRxYy0linyRJVb3rflGBXPlSZSspxMpCEYIayEI"/><meta name="facebook-domain-verification" content="x1jys55du9q7hw5ztn347vr7xluhyz"/><title>Latest & Breaking News Today, Events, Updated Information on Personal & Cash Loan</title><meta name="description" content="Get latest news, events, updated information on Fibe. Explore all information, updates & breaking news about Fibe from all sources at a single place."/><meta name="viewport" content="width=device-width, initial-scale=1"/><meta name="robots" content="index, follow, max-video-preview:-1, max-image-preview:large, max-snippet:-1"/><meta name="facebook-domain-verification" content="x1jys55du9q7hw5ztn347vr7xluhyz"/><link rel="canonical" href="https://www.fibe.in/news/"/><meta name="google-site-verification" content="qwvdfRxYy0linyRJVb3rflGBXPlSZSspxMpCEYIayEI"/><link rel="icon" href="/favicon.ico" type="image/x-icon" sizes="any"/><script src="/_next/static/chunks/polyfills-c67a75d1b6f99dc8.js" noModule=""></script></head><body class="font-gilroy !bg-white min-h-screen select-none"><noscript><iframe title="google tag manager" src="https://www.googletagmanager.com/ns.html?id=GTM-T3MDNS9" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><script type="application/ld+json">{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://www.fibe.in/"},{"@type":"ListItem","position":2,"name":"News","item":"https://www.fibe.in/news/"}]}</script><header class="grid grid-cols-1 items-center fixed left-0 top-0 z-30 w-full bg-transparent"><nav class="relative px-2 py-1 mx-4 lg:mx-0"><div class="w-full lg:container lg:mx-auto flex justify-between items-end lg:items-center mb-3 lg:mb-0"><a class="relative w-[52px] lg:w-[77px] h-[42px] lg:h-[60px] mt-2 mb-2 lg:mb-0 lg:mb-4" href="/"><img alt="Fibe Instant Personal Loan" fetchPriority="high" decoding="async" data-nimg="fill" class="mx-6 lg:m-0" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/fibe-india.svg"/></a><div class="space-x-1 lg:space-x-2 flex justify-end items-center lg:py-2"><div class="fixed lg:hidden h-screen bg-zinc-950 opacity-50 left-0 top-0 w-full z-10 transform ease-in-out max-lg:transition-all duration-200 hidden lg:translate-x-0"></div><ul class="fixed lg:relative z-30 top-0 right-0 bg-white lg:bg-transparent h-screen lg:h-auto lg:flex transform ease-in-out max-lg:transition-all duration-300 space-x-2 lg:space-x-6 [&>*]:ml-0 w-[320px] lg:w-full rounded-l-3xl translate-x-full lg:translate-x-0"><li class="flex flex-col lg:hidden"><a class="relative w-[52px] lg:w-[77px] h-[42px] lg:h-[60px] my-2 shrink-0" href="/"><img alt="Fibe Instant Personal Loan" fetchPriority="high" decoding="async" data-nimg="fill" class="mx-6 lg:m-0" style="position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent" src="/fibe-india.svg"/></a></li><li class="absolute lg:hidden right-5 top-5 z-40"><button type="button" class=" lg:text-xl lg:w-auto border text-2xl m-1 p-2 border-0"><img alt="close" loading="lazy" width="13" height="14" decoding="async" data-nimg="1" style="color:transparent" src="/icons/close.svg"/></button></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Loans</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-10 lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>a]:text-sm "><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/instant-cash-loan/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><rect width="4" height="12" x="20" y="4" stroke="#333" stroke-width="1.5" rx="2" transform="rotate(90 20 4)"></rect><rect width="4" height="12" x="20" y="12" stroke="#333" stroke-width="1.5" rx="2" transform="rotate(90 20 12)"></rect><rect width="4" height="12" x="16" y="8" stroke="#F8A63F" stroke-width="1.5" rx="2" transform="rotate(90 16 8)"></rect><rect width="4" height="12" x="17" y="16" stroke="#F8A63F" stroke-width="1.5" rx="2" transform="rotate(90 17 16)"></rect></svg></span> <span class="lg:font-medium">Instant Cash Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get quick cash loans of up to ₹5 lacs in 2 minutes</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="https://personal-loan.fibe.in/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linejoin="round" stroke-width="1.5" d="M5.632 11.103A6 6 0 0 1 11.325 7h1.35a6 6 0 0 1 5.692 4.103l1 3C20.663 17.988 17.771 22 13.675 22h-3.35c-4.096 0-6.988-4.012-5.693-7.897l1-3Z"></path><path stroke="#333" stroke-linejoin="round" stroke-width="1.5" d="M14.086 7H9.914L8.513 5.393c-1.373-1.575.229-3.93 2.234-3.283l.928.3c.211.067.439.067.65 0l.928-.3c2.005-.647 3.607 1.708 2.234 3.283L14.086 7Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M9 17c2.254 1.315 3.578 1.345 6 0"></path></svg></span> <span class="lg:font-medium">Personal Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Avail of a Personal Loan at 0 preclosure charges</span></a></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Our Offerings</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-[250px] lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out lg:grid lg:grid-cols-2 lg:w-[640px] lg:divide-x [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>ul>li>a]:text-sm "><li class="lg:pr-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2 text-black">Newly Launched</p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/loan-against-mutual-fund/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg width="24" height="25" viewBox="0 0 24 25" fill="none" xmlns="http://www.w3.org/2000/svg"><g clip-path="url(#clip0_17517_29912)"><path d="M19 2.87988H21C21.5523 2.87988 22 3.30969 22 3.83988V5.75988M21 3.83988C13.0585 9.97558 8.94211 11.6283 2 12.4799M18 10.5599V20.1599C18 21.2203 18.8954 22.0799 20 22.0799C21.1046 22.0799 22 21.2203 22 20.1599V10.5599C22 9.49949 21.1046 8.63988 20 8.63988C18.8954 8.63988 18 9.49949 18 10.5599ZM2 18.2399L2 20.1599C2 21.2203 2.89543 22.0799 4 22.0799C5.10457 22.0799 6 21.2203 6 20.1599L6 18.2399C6 17.1795 5.10457 16.3199 4 16.3199C2.89543 16.3199 2 17.1795 2 18.2399ZM9.99999 14.3999V20.1599C9.99999 21.2203 10.8954 22.0799 12 22.0799C13.1046 22.0799 14 21.2203 14 20.1599V14.3999C14 13.3395 13.1046 12.4799 12 12.4799C10.8954 12.4799 9.99999 13.3395 9.99999 14.3999Z" stroke="#333333" stroke-width="1.5" stroke-linecap="round" stroke-linejoin="round"></path><path d="M13.0001 2.1719C13.0001 2.2871 12.9512 2.39763 12.8644 2.47908C12.7776 2.56053 12.6598 2.60635 12.5371 2.60635H10.6852V3.02332C10.6851 3.40527 10.5507 3.77645 10.303 4.07953C10.0553 4.38263 9.70809 4.6008 9.31501 4.69999L11.7872 7.01968C11.7907 7.05444 11.7907 7.08934 11.7872 7.12396C11.7923 7.16439 11.7923 7.20512 11.7872 7.24555C11.7872 7.36074 11.7383 7.47128 11.6515 7.55273C11.5647 7.63418 11.4469 7.67999 11.3242 7.67999H11.1853C11.1284 7.66268 11.0751 7.63621 11.0278 7.60174L10.963 7.54095L7.24106 3.95286C7.17038 3.87199 7.13117 3.77091 7.12992 3.66619C7.12992 3.42636 7.33717 3.23175 7.59276 3.23175C7.70607 3.23233 7.81519 3.27262 7.89843 3.34476C7.90168 3.35901 7.90168 3.37385 7.89843 3.38825L8.25029 3.70968H8.25013C8.4118 3.83534 8.61424 3.90588 8.82428 3.90952C9.0698 3.90952 9.30541 3.81789 9.47901 3.655C9.65261 3.4921 9.75011 3.27115 9.75011 3.04064V2.60635H7.46318C7.20758 2.60635 7.00018 2.41174 7.00018 2.17191C7.00018 1.93207 7.20758 1.73747 7.46318 1.73747H9.7594V0.868734H7.46318C7.20758 0.868734 7.00018 0.674274 7.00018 0.434292C7.00018 0.194456 7.20758 0 7.46318 0H12.5372C12.7928 0 13.0002 0.19446 13.0002 0.434292C13.0002 0.674274 12.7928 0.868734 12.5372 0.868734H10.6854V1.73747H12.5372C12.6599 1.73747 12.7777 1.78328 12.8645 1.86473C12.9513 1.94618 13.0002 2.05672 13.0002 2.17191L13.0001 2.1719Z" fill="#F8A63F"></path></g><defs><clipPath id="clip0_17517_29912"><rect width="24" height="24.3137" fill="white" transform="translate(0 0.136719)"></rect></clipPath></defs></svg></span> <span class="lg:font-medium">Loan Against Mutual Funds</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Borrow using mutual fund holdings in minutes</span></a></li><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2"><a class="text-black" href="/credit-card/fibe-axis-bank-credit-card/">Credit Card</a></p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/credit-card/fibe-axis-bank-credit-card/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg fill="none" height="24" viewBox="0 0 24 24" width="24" xmlns="http://www.w3.org/2000/svg"><g stroke-width="1.5"><path d="m2 7h20v4h-20z" stroke="#f8a63f" stroke-linejoin="round"></path><path d="m2 7c0-2.20914 1.79086-4 4-4h12c2.2091 0 4 1.79086 4 4v10c0 2.2091-1.7909 4-4 4h-12c-2.20914 0-4-1.7909-4-4z" stroke="#333" stroke-linejoin="round"></path><path d="m8 17h-2" stroke="#f8a63f" stroke-linecap="round"></path></g></svg></span> <span class="lg:font-medium">Fibe Axis Bank Credit Card</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Go numberless with Fibe Axis Bank Credit Card</span></a></li></ul></li><li class="lg:pl-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2"><a class="text-black" href="/financial-wellness/">Financial Wellness</a></p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/financial-wellness/salary-advance/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linejoin="round" stroke-width="1.5" d="M2 7a4 4 0 0 1 4-4h12a4 4 0 0 1 4 4v10a4 4 0 0 1-4 4H6a4 4 0 0 1-4-4V7Z"></path><path stroke="#F8A63F" stroke-linejoin="round" stroke-width="1.5" d="M22 9v6h-4a3 3 0 1 1 0-6h4Z"></path></svg></span> <span class="lg:font-medium">Salary Advance</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Easy financing for your employees instant cash needs</span></a></li><li><p class="font-semibold text-base px-0 lg:px-3 py-1 lg:py-2"><a class="text-black" href="/fibe-emis/">FibeEMIS-Buy Now Pay Later</a></p></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/fibe-emis/healthcare/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="25" fill="none"><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M12 11.143v6.079M15 14.182H9"></path><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M8 6.078V5.065c0-1.679 1.343-3.04 3-3.04h2c1.657 0 3 1.361 3 3.04v1.013M6 22.287h12c2.21 0 4-1.814 4-4.052V10.13c0-2.238-1.79-4.052-4-4.052H6c-2.21 0-4 1.814-4 4.052v8.105c0 2.238 1.79 4.052 4 4.052Z"></path></svg></span> <span class="lg:font-medium">Medical Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Access the best of healthcare on EMIs</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/fibe-emis/education/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="22" height="21" fill="none"><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M10.317 3.632c-2.124-1.507-5.104-2.19-7.323-2.445C1.896 1.062 1 1.991 1 3.137v11.412c0 1.145.896 2.075 1.994 2.2 2.219.254 5.2.937 7.323 2.445.408.29.958.29 1.366 0 2.124-1.508 5.104-2.19 7.323-2.445 1.098-.125 1.994-1.055 1.994-2.2V3.136c0-1.146-.896-2.075-1.994-1.95-2.219.254-5.2.938-7.323 2.445-.408.29-.958.29-1.366 0Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M3.994 6.457c1.266.199 2.678.529 4 1.047m-4 3.005c.64.1 1.316.235 2 .41m5-5.679v12.664"></path></svg></span> <span class="lg:font-medium">Education Loan</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Fuel your aspirations with the latest upskilling courses on EMIs</span></a></li></ul></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Loan Calculators</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-[250px] lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out lg:grid lg:grid-cols-2 lg:w-[640px] lg:divide-x [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>ul>li>a]:text-sm "><li class="lg:pr-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink"><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/personal-loan-emi-calculator/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M8 6h8m4 12V6a4 4 0 0 0-4-4H8a4 4 0 0 0-4 4v12a4 4 0 0 0 4 4h8a4 4 0 0 0 4-4Z"></path><path fill="#F8A63F" d="M8.75 10a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM12.75 10a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM16.75 10a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM8.75 18a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM12.75 18a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0ZM16.75 18a.75.75 0 1 1-1.5 0 .75.75 0 0 1 1.5 0Z"></path></svg></span> <span class="lg:font-medium">Personal Loan EMI Calculator</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get EMI amount, repayment tenure and interest rate beforehand</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/instant-cash-loan-emi-calculator/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="22" height="22" fill="none"><path stroke="#333" stroke-width="1.5" d="M17 1H5a4 4 0 0 0-4 4v12a4 4 0 0 0 4 4h12a4 4 0 0 0 4-4V5a4 4 0 0 0-4-4Z"></path><path stroke="#F8A63F" stroke-width="1.5" d="M15 9a2 2 0 0 0-2 2v2a2 2 0 1 0 4 0v-2a2 2 0 0 0-2-2ZM7 5a2 2 0 0 0-2 2v6a2 2 0 1 0 4 0V7a2 2 0 0 0-2-2Z"></path></svg></span> <span class="lg:font-medium">Instant Loan EMI Calculator</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Know EMI loan amount in seconds to plan your finances better</span></a></li></ul></li><li class="lg:pl-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/personal-loan-eligibility-calculator/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-width="1.5" d="M22 10v8a4 4 0 0 1-4 4H6a4 4 0 0 1-4-4V6a4 4 0 0 1 4-4h8"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M5 12h1a2 2 0 0 0 2-2V9a2 2 0 1 1 4 0v6a2 2 0 1 0 4 0v-1a2 2 0 0 1 2-2h1m3-7.5a2.5 2.5 0 1 1-5 0 2.5 2.5 0 0 1 5 0Z"></path></svg></span> <span class="lg:font-medium">Eligibility Calculator</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Easy-to-use calculator to know your loan eligibility in seconds</span></a></li><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/check-credit-score/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M20 8a2 2 0 0 1 2 2v10a2 2 0 1 1-4 0V10a2 2 0 0 1 2-2ZM4 16a2 2 0 0 1 2 2v2a2 2 0 1 1-4 0v-2a2 2 0 0 1 2-2ZM12 12a2 2 0 0 1 2 2v6a2 2 0 1 1-4 0v-6a2 2 0 0 1 2-2Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M19 2h2a1 1 0 0 1 1 1v2m-1-2c-7.941 6.391-12.058 8.113-19 9"></path></svg></span> <span class="lg:font-medium">Check Credit Score</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get your credit score for free before applying for a loan</span></a></li></ul></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Learn</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-10 lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>a]:text-sm "><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey " href="/blogs/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-width="1.5" d="M16 4h1a4 4 0 0 1 4 4v10a4 4 0 0 1-4 4H7a4 4 0 0 1-4-4V8a4 4 0 0 1 4-4h1m8 0a2 2 0 0 1-2 2h-4a2 2 0 0 1-2-2m8 0a2 2 0 0 0-2-2h-4a2 2 0 0 0-2 2"></path><path stroke="#F8A63F" 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stroke="#333" stroke-width="1.5" d="M20 16H7a3 3 0 0 0-3 3m0 0a3 3 0 0 0 3 3h10a3 3 0 0 0 3-3V5a3 3 0 0 0-3-3H7a3 3 0 0 0-3 3v14Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M8 7h8m-8 4h4"></path></svg></span> <span class="lg:font-medium">Financial Dictionary</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Get all financial terms, formulas, concepts or theories that you are searching for</span></a></li></ul></li><li class="flex flex-col lg:flex-row relative group/l1 p-3 lg:p-0 active "><div class="flex mb:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">About Us</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-[250px] lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out lg:grid lg:grid-cols-2 lg:w-[640px] lg:divide-x [&>li]:mb-1 [&>li:last-child]:mb-0 [&>li>ul>li>a]:text-sm "><li class="lg:pr-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink "><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/about-us/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-width="1.5" d="M13 3h-2a9 9 0 0 0-9 9v5a4 4 0 0 0 4 4h7a9 9 0 1 0 0-18Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M8 10h8m-8 4h4"></path></svg></span> <span class="lg:font-medium">About Fibe</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Fibe is India’s largest lending platform that offers instant credit solutions</span></a></li><li class="mr-0 group/sublink "><a class="grid 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4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Explore jobs at Fibe that best suits your passion and dreams</span></a></li></ul></li><li class="lg:pl-2"><ul class="[&>li]:mb-1 [&>li:last-child]:mb-0"><li class="mr-0 group/sublink active"><a class="grid grid-cols-1 min-w-[280px] px-2 lg:px-2 py-2 hover:bg-latte rounded-xl border border-white hover:border-light-grey group/edit group-[.active]/sublink:bg-latte group-[.active]/sublink:border-light-grey" href="/news/"><span class="flex items-center [&>*]:mr-2 last:mr-0"><span><svg xmlns="http://www.w3.org/2000/svg" width="24" height="24" fill="none"><path stroke="#333" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M2 6v12a4 4 0 0 0 4 4h12a4 4 0 0 0 4-4V6a4 4 0 0 0-4-4H6a4 4 0 0 0-4 4Z"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="M7 12h10M9 7h6M9 17h6"></path></svg></span> <span class="lg:font-medium">News</span> <span 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4.438 0L18 8"></path><path stroke="#F8A63F" stroke-linecap="round" stroke-width="1.5" d="M2 15h6m-6 3h6"></path></svg></span> <span class="lg:font-medium">Contact Us</span> <span class="group-hover/edit:pl-1 group-[.active]/sublink:pl-1 transition-all"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="10" fill="none" stroke="#333"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" d="m9 9 4-4m0 0L9 1m4 4H1"></path></svg></span></span><span class="hidden lg:block ml-8 text-xs text-cement-grey">Reach us via different channels for your concerns and get instant help</span></a></li></ul></li></ul></li><li class="flex-col lg:flex-row relative group/l1 p-3 lg:p-0 hidden lg:flex"><div class="flex lg:2 lg:mb-0 items-center"><a class="mr-1 group-[.active]/l1:text-primary font-semibold text-base lg:text-lg lg:py-4" href="#">Download Fibe</a><svg xmlns="http://www.w3.org/2000/svg" width="12" height="6" fill="none" class="stroke-plain-grey mt-1 group-[.active]/l1:stroke-primary"><path d="m1 1 5 4 5-4"></path></svg></div><ul class="relative lg:absolute bg-white top-0 lg:top-full left:0 lg:-left-10 lg:transform lg:scale-0 group-hover/l1:lg:scale-100 transition-[max-height] lg:transition duration-300 lg:duration-150 ease-out lg:ease-in-out lg:origin-top lg:shadow-lg z-50 px-2 lg:py-2 lg:rounded-xl max-h-0 overflow-hidden group-hover/l1:max-h-[500px] group-hover/l1:lg:max-h-[auto] group-hover/l1:duration-400 group-hover/l1:lg:duration-150 group-hover/l1:ease-in group-hover/l1:lg:ease-in-out "><li class="mr-0 "><div class="flex flex-col items-start w-[250px]"><div class="hidden lg:block font-semibold text-base mt-2 ml-2">Scan QR to get the Fibe app</div><img alt="Fibe" loading="lazy" width="120" height="120" decoding="async" data-nimg="1" class="mb-2 hidden lg:block max-w-[120px]" style="color:transparent" srcSet="/_next/image/?url=%2Fappsflyer.png&w=128&q=75 1x, /_next/image/?url=%2Fappsflyer.png&w=256&q=75 2x" src="/_next/image/?url=%2Fappsflyer.png&w=256&q=75"/><div class="ml-4 flex flex-wrap flex-col max-w-max [&>*]:min-w-[230px] lg:[&>*]:min-w-[100px]"><a href="https://apps.apple.com/in/app/earlysalary-salary-advance-app/id1094602630" target="_blank" rel="noopener" class="group inline-flex items-center justify-center mr-2 rounded-md bg-black px-2 lg:px-4 py-1.5 lg:py-2 mb-2 text-sm font-semibold text-white border border-black shadow-sm hover:bg-transparent hover:text-black focus-visible:outline focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:outline-indigo-600"><span class="mr-2 lg:mr-3 lg:text-xl"><svg xmlns="http://www.w3.org/2000/svg" width="14" height="16" fill="none" class="fill-white group-hover:fill-black"><path d="M11.21 8.432c-.02-2.041 1.705-3.035 1.784-3.081-.976-1.397-2.491-1.588-3.022-1.603-1.273-.132-2.506.747-3.153.747-.662 0-1.66-.734-2.734-.714-1.385.022-2.679.807-3.39 2.027-1.465 2.486-.37 6.14 1.032 8.15.702.983 1.523 2.084 2.596 2.044 1.051-.042 1.443-.656 2.712-.656 1.256 0 1.625.656 2.72.632 1.128-.018 1.837-.989 2.515-1.982.812-1.128 1.138-2.239 1.15-2.296-.027-.009-2.189-.82-2.21-3.268Z"></path><path d="M9.142 2.592c.565-.694.952-1.635.845-2.592-.817.036-1.841.555-2.429 1.232-.523.597-.988 1.577-.867 2.496.918.067 1.86-.454 2.451-1.136Z"></path></svg></span> <!-- -->Download on App Store</a><a href="https://play.google.com/store/apps/details?id=com.earlysalary.android" target="_blank" rel="noopener" class="group inline-flex items-center justify-center mr-2 rounded-md bg-black px-2 lg:px-4 py-1.5 lg:py-2 mb-2 text-sm font-semibold text-white border border-black shadow-sm hover:bg-transparent hover:text-black focus-visible:outline focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:outline-indigo-600"><span class="mr-2 lg:mr-3 lg:text-xl"><svg xmlns="http://www.w3.org/2000/svg" width="16" height="16" fill="none" class="fill-white group-hover:fill-black"><path d="m9.037 7.413 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class="text-center"><h2 class="text-2xl lg:text-3xl mb-4 lg:mb-8 font-semibold">Recent News</h2></div><div class="grid grid-cols-1 lg:grid-flow-auto gap-4 lg:gap-6 container mx-auto mt-8 lg:grid-cols-2"><a class=" lg:col-span-1 border rounded-xl p-4 hover:border-primary" href="/news/fibe-now-offers-easy-access-to-credit-on-the-ondc-network/"><div class="flex flex-col lg:flex-row h-full relative"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="640" height="437" decoding="async" data-nimg="1" class="object-cover h-full w-full lg:w-[215px] rounded-md mb-4 lg:mb-0 bg-slate-100" style="color:transparent" sizes="25vw" srcSet="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=256&q=75 256w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=384&q=75 384w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=640&q=75 640w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=750&q=75 750w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=828&q=75 828w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=1080&q=75 1080w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=1200&q=75 1200w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=1920&q=75 1920w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=2048&q=75 2048w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=3840&q=75 3840w" src="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F09%2FNews-blog.jpg&w=3840&q=75"/><div class="lg:ml-5"><div class="divide-x [&>*]:px-2 mb-3 lg:mb-4 text-sm"> <span>16 Sep 2024</span></div><div class="font-semibold text-lg lg:text-xl mb-2 lg:mb-3 line-clamp-2">Fibe Now Offers Easy Access To Credit On The ONDC Network</div><div class="line-clamp-3 text-base text-cement-grey"><p>Fibe has earned the distinct recognition to be one of the first fintechs to be onboarded in the financial services-credit category of Open Network for Digital Commerce (ONDC). Thanks to its upgraded infrastructure, Fibe is ready to enhance the experience of users in need of credit on the ONDC Network. Young salaried professionals and other … </p> <p class="link-more"><a href="https://altcont.fibe.in/news/fibe-now-offers-easy-access-to-credit-on-the-ondc-network/" class="more-link">Continue reading<span class="screen-reader-text"> “Fibe Now Offers Easy Access To Credit On The ONDC Network”</span></a></p> </div><div class="flex justify-between text-sm mt-3"><span class="text-primary font-semibold text-base">Read More</span> <span class="text-cement-grey">3 mins read</span></div></div></div></a><a class=" lg:col-span-1 border rounded-xl p-4 hover:border-primary" href="/news/rbi-monetary-policy-committee-meet/"><div class="flex flex-col lg:flex-row h-full relative"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="640" height="437" decoding="async" data-nimg="1" class="object-cover h-full w-full lg:w-[215px] rounded-md mb-4 lg:mb-0 bg-slate-100" style="color:transparent" sizes="25vw" srcSet="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=256&q=75 256w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=384&q=75 384w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=640&q=75 640w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=750&q=75 750w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=828&q=75 828w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=1080&q=75 1080w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=1200&q=75 1200w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=1920&q=75 1920w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=2048&q=75 2048w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=3840&q=75 3840w" src="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F08%2F5-19.jpg&w=3840&q=75"/><div class="lg:ml-5"><div class="divide-x [&>*]:px-2 mb-3 lg:mb-4 text-sm"> <span>8 Aug 2024</span></div><div class="font-semibold text-lg lg:text-xl mb-2 lg:mb-3 line-clamp-2">Monetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50%</div><div class="line-clamp-3 text-base text-cement-grey"><p>The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. RBI Governor Shaktikanta Das announced the Monetary Policy decisions at the meeting. Citing a hike in headline inflation, the MPC decided to keep the repo rate unchanged at 6.50%. The committee … </p> <p class="link-more"><a href="https://altcont.fibe.in/news/rbi-monetary-policy-committee-meet/" class="more-link">Continue reading<span class="screen-reader-text"> “Monetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50%”</span></a></p> </div><div class="flex justify-between text-sm mt-3"><span class="text-primary font-semibold text-base">Read More</span> <span class="text-cement-grey">3 mins read</span></div></div></div></a><a class=" lg:col-span-1 border rounded-xl p-4 hover:border-primary" href="/news/budget-2024-deduction-on-home-loan-interest-payments-expected-to-return/"><div class="flex flex-col lg:flex-row h-full relative"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="640" height="437" decoding="async" data-nimg="1" class="object-cover h-full w-full lg:w-[215px] rounded-md mb-4 lg:mb-0 bg-slate-100" style="color:transparent" sizes="25vw" srcSet="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=256&q=75 256w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=384&q=75 384w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=640&q=75 640w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=750&q=75 750w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=828&q=75 828w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=1080&q=75 1080w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=1200&q=75 1200w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=1920&q=75 1920w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=2048&q=75 2048w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=3840&q=75 3840w" src="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2023%2F05%2FPersonal-Loan-foreclosure-charges.png&w=3840&q=75"/><div class="lg:ml-5"><div class="divide-x [&>*]:px-2 mb-3 lg:mb-4 text-sm"> <span>24 Jul 2024</span></div><div class="font-semibold text-lg lg:text-xl mb-2 lg:mb-3 line-clamp-2">Budget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now</div><div class="line-clamp-3 text-base text-cement-grey"><p>According to the Budget 2024 live updates, there have been significant announcements that will affect your tax liabilities. For the upcoming Budget Session of the Parliament, taxpayers were expecting the deduction on home loan interest payments to be back. Such an announcement would complement the government’s initiative of providing ‘Affordable Housing for All.’ To know … </p> <p class="link-more"><a href="https://altcont.fibe.in/news/budget-2024-deduction-on-home-loan-interest-payments-expected-to-return/" class="more-link">Continue reading<span class="screen-reader-text"> “Budget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now”</span></a></p> </div><div class="flex justify-between text-sm mt-3"><span class="text-primary font-semibold text-base">Read More</span> <span class="text-cement-grey">3 mins read</span></div></div></div></a><a class=" lg:col-span-1 border rounded-xl p-4 hover:border-primary" href="/news/fibe-ropes-in-12th-fail-actor-vikrant-massey-as-its-brand-ambassador/"><div class="flex flex-col lg:flex-row h-full relative"><img alt="Fibe personal loan and instant cash loan app" loading="lazy" width="640" height="437" decoding="async" data-nimg="1" class="object-cover h-full w-full lg:w-[215px] rounded-md mb-4 lg:mb-0 bg-slate-100" style="color:transparent" sizes="25vw" srcSet="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=256&q=75 256w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=384&q=75 384w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=640&q=75 640w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=750&q=75 750w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=828&q=75 828w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=1080&q=75 1080w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=1200&q=75 1200w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=1920&q=75 1920w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=2048&q=75 2048w, /_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=3840&q=75 3840w" src="/_next/image/?url=https%3A%2F%2Faltcont.fibe.in%2Fwp-content%2Fuploads%2F2024%2F07%2FVikrant-blog-banner-copy-100-1.jpg&w=3840&q=75"/><div class="lg:ml-5"><div class="divide-x [&>*]:px-2 mb-3 lg:mb-4 text-sm"> <span>9 Jul 2024</span></div><div class="font-semibold text-lg lg:text-xl mb-2 lg:mb-3 line-clamp-2">Fibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador</div><div class="line-clamp-3 text-base text-cement-grey"><p>In a strategic move to boost its reach among India’s youth, Fibe has named renowned Bollywood actor Vikrant Massey as its brand ambassador. The ‘12th Fail’ fame actor will now be part of the company’s advertisement and marketing campaigns. Onboarding Massey, known for his relatable charm, underscores Fibe’s commitment to connecting with the millennial and … </p> <p class="link-more"><a href="https://altcont.fibe.in/news/fibe-ropes-in-12th-fail-actor-vikrant-massey-as-its-brand-ambassador/" class="more-link">Continue reading<span class="screen-reader-text"> “Fibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador”</span></a></p> </div><div class="flex justify-between text-sm mt-3"><span class="text-primary font-semibold text-base">Read More</span> <span class="text-cement-grey">3 mins read</span></div></div></div></a></div></section><footer class="bg-jet-grey relative pb-[120px] lg:pb-[125px]"><div class="absolute -top-[40px] left-0 w-full z-10 "><button type="button" class=" rounded-full bg-jet-grey w-[80px] h-[80px] mx-auto flex justify-center items-center text-white text-xl"> <img alt="arrowup" loading="lazy" width="15" height="16" decoding="async" data-nimg="1" style="color:transparent" 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text-black border border-white shadow-sm hover:bg-transparent hover:text-white focus-visible:outline focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:outline-indigo-600 w-[40px] h-[40px]" title="linkedin"><span class=""><svg xmlns="http://www.w3.org/2000/svg" width="32" height="32" class="fill-black group-hover:fill-white"><path d="M8.643 4A2.641 2.641 0 0 0 6 6.64C6 8.1 7.183 9.31 8.64 9.31c1.459 0 2.643-1.21 2.643-2.668A2.64 2.64 0 0 0 8.643 4zm12.892 7c-2.219 0-3.488 1.16-4.098 2.314h-.064v-2.003H13V26h4.557v-7.271c0-1.916.144-3.768 2.515-3.768 2.337 0 2.371 2.185 2.371 3.889V26H27v-8.068C27 13.984 26.151 11 21.535 11zm-15.172.31V26h4.56V11.31h-4.56z"></path></svg></span></a></li></ul></div></div></div></section><section class="bg-mid-grey text-white py-2 lg:py-4 px-2 rounded-lg"><div class="inline-flex items-center h-10 px-3 text-white"><span class="mr-2 font-semibold text-lg capitalize">Legal</span><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 320 512" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path d="M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z"></path></svg></div><div class="px-3 mb-2 block"><div class="grid gap-0 lg:gap-2 grid-cols-1 lg:grid-cols-2 xl:flex divide-y xl:divide-x lg:divide-y-0 divide-[#424242] first:pt-3 [&>*]lg:py-6 [&>*]:xl:pl-14 [&>*]:xl:pr-6 [&>div>ul>li>a]:text-lighter-grey [&>div>ul>li>a:hover]:text-white"><div class="first:pl-0 xl:flex-grow xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="fair code practices" href="/fair-code-practices/">Fair Practice Codes</a></li><li><a class="hover:text-primary" title="terms conditions" href="/terms-conditions/">Terms And Conditions</a></li><li><a class="hover:text-primary" title="Amazon pay giftcard T&C" href="/amazon-pay-gift-card-tnc/">Amazon pay giftcard T&C</a></li><li><a class="hover:text-primary" title="Promotional T&Cs for HRMS Tie-ups" href="/promotions-tnc/">Promotional T&Cs for HRMS Tie-ups</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Refer & Earn T&C" href="/refer-n-earn-tnc/">Refer & Earn T&C</a></li><li><a class="hover:text-primary" title="Privacy Policy" href="/privacy-policy/">Privacy Policy</a></li><li><a class="hover:text-primary" title="Disclaimer" href="/disclaimer/">Disclaimer</a></li><li><a class="hover:text-primary" title="disclosure" href="/disclosure/">Disclosure</a></li><li><a class="hover:text-primary" title="regulatory disclosures" href="/regulatory-disclosures/">Regulatory Disclosures</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="vigil mechanism policy" href="/vigil-mechanism-policy/">Vigil Mechanism Policy</a></li><li class="first:mt-0"><a class="hover:text-primary" title="moratorium policy" href="/moratorium-policy/">Moratorium Policy</a></li><li class="first:mt-0"><a class="hover:text-primary" title="moratorium-terms" href="/moratorium-terms/">Moratorium Terms</a></li><li class="first:mt-0"><a class="hover:text-primary" title="face code conduct" href="/face-code-conduct/">FACE - Code of Conduct</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Grievance Redressal Policy" href="/grievance-redressal/">Grievance Redressal Policy</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Our Lending Partners" href="/our-lending-partners/">Our Lending Partners</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Our Sourcing Partners" href="/our-sourcing-partners/">Our Sourcing Partners</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Our Collection Agencies" href="/our-collection-agencies/">Our Collection Agencies</a></li></ul></div></div></div></section><section class="bg-mid-grey text-white py-2 lg:py-4 px-2 rounded-lg"><div class="inline-flex items-center h-10 px-3 text-white"><span class="mr-2 font-semibold text-lg capitalize">Resources</span><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 320 512" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path d="M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z"></path></svg></div><div class="px-3 mb-2 block"><div class="grid gap-0 lg:gap-2 grid-cols-1 lg:grid-cols-2 xl:flex divide-y xl:divide-x lg:divide-y-0 divide-[#424242] first:pt-3 [&>*]lg:py-6 [&>*]:xl:pl-14 [&>*]:xl:pr-6 [&>div>ul>li>a]:text-lighter-grey [&>div>ul>li>a:hover]:text-white"><div class="first:pl-0 xl:flex-grow xl:w-1/4"><div class="font-semibold mb-5 capitalize">Calculators</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="fair code practices" href="/personal-loan-emi-calculator/">Personal Loan EMI Calculator</a></li><li><a class="hover:text-primary" title="terms conditions" href="/instant-cash-loan-emi-calculator/">Instant Loan EMI Calculator</a></li><li><a class="hover:text-primary" title="Amazon pay giftcard T&C" href="/personal-loan-eligibility-calculator/">Eligibility Calculator</a></li><li><a class="hover:text-primary" title="Promotional T&Cs for HRMS Tie-ups" href="/check-credit-score/">Check Credit Score</a></li><li><a class="hover:text-primary" title="Personal Loan Interest Rate" href="/personal-loan/personal-loan-interest-rate/">Personal Loan Interest Rate</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Personal Loan Eligibility</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Instant Loan Eligibility Criteria" href="/instant-cash-loan/eligibility-criteria/">Instant Loan Eligibility Criteria</a></li><li><a class="hover:text-primary" title="Personal Loan Eligibility Criteria" href="/personal-loan/eligibility-criteria/">Personal Loan Eligibility Criteria</a></li><li><a class="hover:text-primary" title="Document Required for Instant Loan" href="/instant-cash-loan/documents-required/">Document Required for Instant Loan</a></li><li><a class="hover:text-primary" title="Document Required for Personal Loan" href="/personal-loan/documents-required/">Document Required for Personal Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Personal Loan by Salary</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="20,000 Salary Loan" href="/personal-loan/20000-salary-loan/">20,000 Salary Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="30,000 Salary Loan" href="/personal-loan/30000-salary-loan/">30,000 Salary Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="40,000 Salary Loan" href="/personal-loan/40000-salary-loan/">40,000 Salary Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="50,000 Salary Loan" href="/personal-loan/50000-salary-loan/">50,000 Salary Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Credit Card</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Free credit card" href="/credit-card/free-credit-card/">Free credit card</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Cashback Credit card" href="/credit-card/cashback-credit-card/">Cashback Credit card</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Card Eligibilty Criteria" href="/credit-card/credit-card-eligibility-criteria/">Card Eligibilty Criteria</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Document Required for Credit card" href="/credit-card/document-required-for-credit-card/">Document Required for Credit card</a></li></ul></div></div><div class="mt-6"></div><div class="grid gap-0 lg:gap-2 grid-cols-1 lg:grid-cols-2 xl:flex divide-y xl:divide-x lg:divide-y-0 divide-[#424242] first:pt-3 [&>*]lg:py-6 [&>*]:xl:pl-14 [&>*]:xl:pr-6 [&>div>ul>li>a]:text-lighter-grey [&>div>ul>li>a:hover]:text-white"><div class="first:pl-0 xl:flex-grow xl:w-1/4"><div class="font-semibold mb-5 capitalize">Types of Loan</div><ul role="list" class="[&>*]:mb-3"><li><a class="hover:text-primary" title="Loan for Salaried Professional" href="/personal-loan/salaried-professional/">Loan for Salaried Professional</a></li><li><a class="hover:text-primary" title="Travel Loan" href="/personal-loan/travel-loan/">Travel Loan</a></li><li><a class="hover:text-primary" title="Digital Loan" href="/personal-loan/digital-loan/">Digital Loan</a></li><li><a class="hover:text-primary" title="Short Term Loan" href="/personal-loan/short-term-loan/">Short Term Loan</a></li><li><a class="hover:text-primary" title="Long Term Loan" href="/personal-loan/long-term-loan/">Long Term Loan</a></li><li><a class="hover:text-primary" title="Wedding Loan" href="/personal-loan/wedding-loan/">Wedding Loan</a></li><li><a class="hover:text-primary" title="Medical Loan" href="/personal-loan/medical-emergency-loan/">Medical Loan</a></li><li><a class="hover:text-primary" title="Secured Loan" href="/secured-loan/">Secured Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Personal loan by Amount</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="50000 Personal Loan" href="/personal-loan/50000-personal-loan/">50000 Loan</a></li><li><a class="hover:text-primary" title="60000 Personal Loan" href="/personal-loan/60000-personal-loan/">60000 Loan</a></li><li><a class="hover:text-primary" title="70000 Personal Loan" href="/personal-loan/70000-personal-loan/">70000 Loan</a></li><li><a class="hover:text-primary" title="80000 Personal Loan" href="/personal-loan/80000-personal-loan/">80000 Loan</a></li><li><a class="hover:text-primary" title="90000 Personal Loan" href="/personal-loan/90000-personal-loan/">90000 Loan</a></li><li><a class="hover:text-primary" title="1 Lakh Personal Loan" href="/personal-loan/1-lakh-personal-loan/">1 Lakh Loan</a></li><li><a class="hover:text-primary" title="2 Lakh Personal Loan" href="/personal-loan/2-lakh-personal-loan/">2 Lakh Loan</a></li><li><a class="hover:text-primary" title="3 Lakh Personal Loan" href="/personal-loan/3-lakh-personal-loan/">3 Lakh Loan</a></li><li><a class="hover:text-primary" title="4 Lakh Personal Loan" href="/personal-loan/4-lakh-personal-loan/">4 Lakh Loan</a></li><li><a class="hover:text-primary" title="5 Lakh Personal Loan" href="/personal-loan/5-lakh-personal-loan/">5 Lakh Loan</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Blogs</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Foreclosure Charges for Personal Loan" href="/blogs/foreclosure-charges-for-personal-loan/">Foreclosure Charges for Personal Loan</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Check Personal Loan Statement" href="/blogs/check-your-personal-loan-statement-loan-details-in-6-easy-steps/">Check Personal Loan Statement</a></li><li class="first:mt-0"><a class="hover:text-primary" title="What is Loan Account Number?" href="/blogs/loan-account-number-why-it-is-important-and-how-to-find-it/">What is Loan Account Number?</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Check Loan Status Using Pan Card" href="/blogs/how-to-check-loan-status-using-pan-card/">Check Loan Status Using Pan Card</a></li><li class="first:mt-0"><a class="hover:text-primary" title="How to Make Advance EMI Payment?" href="/blogs/how-to-make-advance-emi-payment-online/">How to Make Advance EMI Payment?</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Check Bank Statement Online" href="/blogs/how-to-get-a-bank-statement-without-net-banking-credentials/">Check Bank Statement Online</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Bonus Calculation on Salary" href="/blogs/how-to-calculate-bonus-on-salary-and-why-it-is-important/">Bonus Calculation on Salary</a></li></ul></div><div class="first:pl-0 xl:flex-grow pt-3 xl:pt-0 xl:w-1/4"><div class="font-semibold mb-5 capitalize">Financial Dictionary</div><ul role="list" class="[&>*]:mb-3"><li class="first:mt-0"><a class="hover:text-primary" title="Interest Rate" href="/financial-dictionary/interest-rate/">Interest Rate</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Penal Interest" href="/financial-dictionary/penal-interest/">Penal Interest</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Credit Line vs Credit Limit" href="/financial-dictionary/credit-line-vs-credit-limit/">Credit Line vs Credit Limit</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Grace Period" href="/financial-dictionary/grace-period/">Grace Period</a></li><li class="first:mt-0"><a class="hover:text-primary" title="NACH" href="/financial-dictionary/nach/">NACH</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Late Fee" href="/financial-dictionary/late-fee/">Late Fee</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Pre Payment" href="/financial-dictionary/prepayment/">Pre Payment</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Amount Due" href="/financial-dictionary/amount-due/">Amount Due</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Disbursement" href="/financial-dictionary/disbursement/">Disbursement</a></li><li class="first:mt-0"><a class="hover:text-primary" title="Pay Off" href="/financial-dictionary/pay-off-meaning/">Pay Off</a></li></ul></div></div></div></section><section class="bg-mid-grey text-white py-2 lg:py-4 px-2 rounded-lg"><div class="inline-flex items-center h-10 px-3 text-white"><span class="mr-2 font-semibold text-lg capitalize">Fibe certifications</span><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 320 512" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path d="M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z"></path></svg></div><div class="px-3 mb-2 block"><div class="[&>div>ul>li>a:hover]:text-white"><div class="first:pl-0 flex flex-wrap gap-4 flex-col sm:flex-row pt-3 mb-4"><div><p class="text-sm font-medium mb-2">Security Partner</p><div><img alt="DSS certification" loading="lazy" width="129" height="56" decoding="async" data-nimg="1" style="color:transparent" src="/footer/dss-certification.svg"/></div></div><div class=""><p class="text-sm font-medium mb-2">ISO 27001 Certified</p><img alt="DSS certification" loading="lazy" width="129" height="56" decoding="async" data-nimg="1" style="color:transparent" src="/footer/iso-certification.svg"/></div><div class=""><p class="text-sm font-medium mb-2">SOC 2 Certified</p><img alt="DSS certification" loading="lazy" width="112" height="56" decoding="async" data-nimg="1" style="color:transparent" src="/footer/soc2-certification.svg"/></div><div class=""><p class="text-sm font-medium mb-2">Member</p><div><img alt="DSS certification" loading="lazy" width="177" height="56" decoding="async" data-nimg="1" style="color:transparent" src="/footer/face-certification.svg"/></div></div></div></div></div></section><section class="bg-mid-grey text-white py-4 lg:py-6 px-4 rounded-lg"><p class="text-xs font-medium text-center lg:text-lg">FIBE is a registered trademark owned by Social Worth Technologies Private Limited and has licensed the same to Earlysalary Services Private Limited (Formerly known as Ashish Securities Private Limited), a wholly-owned subsidiary.</p></section></div><section class="bg-midnight-black text-white py-1 lg:py-2 flex flex-col lg:flex-row justify-center items-center relaive"><div class=" lg:space-x-3 [&>*]:my-1 my-2"><div class="flex items-center lg:flex-row flex-col"><div class="textlg lg:text-xl pr-4">Need cash? 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Thanks to its upgraded infrastructure, Fibe is ready to enhance the experience of users in need of credit on the ONDC Network.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eYoung salaried professionals and other consumers can now avail of hassle-free loans ranging from ₹20,000 to ₹5 lakhs on this network. By expanding credit services to the country’s underserved regions vis ONDC, Fibe intends to support the dreams and aspirations of potential borrowers.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith an efficient digital application process, consumers can now get access to a loan in just 6-7 minutes. This way, consumers can eliminate traditionally time-consuming processes and avoid cumbersome paperwork.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eJoining ONDC To Drive Financial Inclusion\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eONDC, or the Open Network for Digital Commerce, is a Government of India initiative aimed at enhancing online shopping. Fibe’s decision to onboard with it is in recognition of its user-friendly platform, which creates a more transparent, convenient, and innovative digital commerce experience.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eCheck out some of its attractive features and benefits:\u003c/h2\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eEnhanced Choices\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC brings together a wide array of e-commerce sellers, offering a diverse range of products and services. This increased competition often leads to better pricing, providing consumers with a plethora of options and exciting deals to explore.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eGovernment-backed Initiative\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eSupported by the Department for Promotion of Industry and Internal Trade (DPIIT) of the Government of India, ONDC offers safety and transparency. This backing ensures the platform\u0026#8217;s legitimacy and compliance with government regulations.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eCompetitive Prices\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC consistently offers lower prices compared to other apps. This affordability is a boon for budget-conscious users, helping them save on their orders. Consumers can also benefit from special promotions and discounts on select products and services from various brands.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eCustomer Support\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC provides dedicated customer support through the app, assisting users with payment issues, order tracking, or general inquiries. This ensures a smooth and reliable shopping experience.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSupport for Small Businesses\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC supports small businesses and local vendors by providing them with a platform to expand their customer base. In addition, it allows users to find special products and services not typically available on mainstream e-commerce sites.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe recent launch of financial services on the ONDC Network includes limited categories, such as insurance, personal loans and GST data-powered MSME Seller Financing. Since its aim is to democratise financial services in India, Fibe made strides to join the network to offer fast and easy access to funds.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe’s mission is to simplify the borrowing experience and empower consumers across India to benefit from faster processing times and quicker digital applications.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAkshay Mehrotra, co-founder \u0026amp; CEO of Fibe, said, “We remain dedicated to empowering the youth, especially the salaried class, in their journey to fulfilling their aspirations. This initiative aligns well with our mission. Together with ONDC Network, we will continue to foster an ecosystem wherein every person has the necessary tools and support to thrive financially, thereby deepening our impact across the country.”\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith ONDC, Fibe’s loan application process will be even more streamlined and transparent, allowing consumers to secure loans safely and conveniently.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eFibe has earned the distinct recognition to be one of the first fintechs to be onboarded in the financial services-credit category of Open Network for Digital Commerce (ONDC). Thanks to its upgraded infrastructure, Fibe is ready to enhance the experience of users in need of credit on the ONDC Network.\u0026nbsp; Young salaried professionals and other \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-now-offers-easy-access-to-credit-on-the-ondc-network/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe Now Offers Easy Access To Credit On The ONDC Network\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":45006,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-45005\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":45006,\"alt_text\":\"Credit On The ONDC Network\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/09/News-blog.jpg\",\"filesize\":276343,\"sizes\":{\"medium\":{\"file\":\"News-blog-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7403,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-300x150.jpg\"},\"large\":{\"file\":\"News-blog-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":40957,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-1024x512.jpg\"},\"thumbnail\":{\"file\":\"News-blog-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4544,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-150x150.jpg\"},\"medium_large\":{\"file\":\"News-blog-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":27247,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-768x384.jpg\"},\"1536x1536\":{\"file\":\"News-blog-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":71691,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"News-blog-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":73631,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"News-blog-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":35082,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"News-blog-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":2369,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"News-blog-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":2864,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":45005,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe Now Offers Easy Access To Credit On The ONDC Network - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-now-offers-easy-access-to-credit-on-the-ondc-network/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe Now Offers Easy Access To Credit On The ONDC Network - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Fibe has earned the distinct recognition to be one of the first fintechs to be onboarded in the financial services-credit category of Open Network for Digital Commerce (ONDC). 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RBI Governor Shaktikanta Das announced the Monetary Policy decisions at the meeting.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCiting a hike in headline inflation, the MPC decided to keep the repo rate unchanged at 6.50%. The committee has also decided to keep the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate at 6.25% and the bank rate at 6.75%. These decisions were taken based on the 4:2 majority.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eWithdrawal of the Accommodative Stance\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eGovernor Das announced that the MPC remains focused on the withdrawal of accommodation. The committee’s focus remains squarely on guiding inflation back to its 4% target while ensuring that economic growth continues on its positive trajectory.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eRecent inflation trends have prompted this cautious approach. After holding steady at 4.8% through April and May 2024, headline inflation increased to 5.1% in June. It was driven primarily by persistent food price pressures. Inflation, excluding food and fuel, has shown signs of moderation. Governor Das reiterated his confidence in domestic economic growth despite these inflationary concerns.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eGrowth and Inflation Outlook\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe Committee believes that the global economic landscape continues to exhibit a mixed picture. While manufacturing activity shows signs of slowing, the services sector remains resilient. Inflation is gradually declining in major economies, albeit at a slower pace.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDomestically, economic activity remains robust. Key indicators include:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSteady progress in the monsoon, higher kharif sowing, and improving reservoir levels, which support agricultural output\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eAccelerated manufacturing activity and strong service sector performance, with the Purchasing Managers’ Index (PMI) for services remaining above 60 for seven consecutive months\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eRobust household consumption, buoyant fixed investment, and rising private corporate investment\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eFood prices remain a key concern on the inflation front, contributing significantly to the overall inflation rate. However, the ongoing monsoon and favourable sowing conditions are expected to bring some relief to food prices.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBased on these assessments, real GDP growth for the current fiscal year is projected at 7.2%, with a slight downward revision for the first quarter. Inflation is projected to be at 4.5% for the year, with risks evenly balanced.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eRobust Growth in the External Sector\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe MPC noted that India\u0026#8217;s current account deficit (CAD) has improved significantly, primarily due to a narrower trade deficit and robust services exports. While the trade deficit widened slightly in the first quarter of the current fiscal year, the overall CAD is expected to remain manageable.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe external financing landscape has shown encouraging signs. Foreign portfolio investors (FPIs) turned net buyers in June 2024, with net inflows of $9.7 billion between June and early August.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eForeign direct investment (FDI) also saw a notable increase, with gross FDI rising by over 20% during April-May 2024 and net FDI flows doubling compared to the same period last year. India’s foreign exchange reserves reached a historic high of $675 billion as of August 2, 2024.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eOther Advisory and Regulatory Measures\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe MPC has highlighted several key areas requiring attention from banks and financial institutions. The central bank has observed some concerning trends in home equity loans, commonly known as top-up housing loans.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSome banks and NBFCs are not strictly adhering to regulations governing loan-to-value (LTV) ratios, risk weights, and fund utilisation. RBI believes this laxity can divert loan funds into unproductive or speculative activities. The committee has advised banks and NBFCs to review their practices and take corrective measures to address this issue.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn a bid to curb the menace of unauthorised digital lending apps, RBI is also set to create a public repository of all digital lending apps deployed by regulated entities. This move is the latest in a series of measures to foster a safe and orderly digital lending ecosystem in India.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe repository will contain detailed information about digital lending apps operated by RBI-regulated entities. This will allow consumers to identify unauthorised platforms easily. These announcements reflect the Reserve Bank\u0026#8217;s commitment to maintaining financial stability and protecting the interests of borrowers and lenders alike.\u0026nbsp;\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eThe Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. RBI Governor Shaktikanta Das announced the Monetary Policy decisions at the meeting.\u0026nbsp;\u0026nbsp; Citing a hike in headline inflation, the MPC decided to keep the repo rate unchanged at 6.50%. The committee \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rbi-monetary-policy-committee-meet/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Monetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50%\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":44218,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-44217\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":44218,\"alt_text\":\"News 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/08/5-19.jpg\",\"filesize\":119668,\"sizes\":{\"medium\":{\"file\":\"5-19-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":3132,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-300x150.jpg\"},\"large\":{\"file\":\"5-19-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":19158,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-1024x512.jpg\"},\"thumbnail\":{\"file\":\"5-19-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":2395,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-150x150.jpg\"},\"medium_large\":{\"file\":\"5-19-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":12258,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-768x384.jpg\"},\"1536x1536\":{\"file\":\"5-19-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":34828,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"5-19-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":36036,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"5-19-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":27039,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"5-19-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":1319,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"5-19-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":1239,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":44217,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eMonetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50% - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. RBI Governor Shaktikanta Das announced the Monetary Policy decisions at the meeting\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/rbi-monetary-policy-committee-meet/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Monetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50% - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. 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Know now\"},\"content\":{\"rendered\":\"\\n\u003cp\u003eAccording to the Budget 2024 live updates, there have been significant announcements that will affect your tax liabilities. For the upcoming Budget Session of the Parliament, taxpayers were expecting the deduction on home loan interest payments to be back. Such an announcement would complement the government’s initiative of providing ‘Affordable Housing for All.’\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo know more about the provisions announced in the Budget 2024 for home loans, read on.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eHighlights of Budget 2024 About Home Loan Interest Deduction\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe return of home loan interest deduction in Budget 2024 would have been positive news. However, the Finance Minister did not propose any changes in this respect. That said, the following were the key points announced in Budget 2024 with regards to urban housing:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eAn investment of ₹10 lakh crore to address the housing needs of 1 crore urban poor and middle-class families under the PM Awas Yojana Urban 2.0\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe above includes central assistance of ₹2.2 lakh crore in the coming 5 years\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThere is a possibility of interest subsidy to offer loans at affordable rates\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003ePolicies and regulations for efficient and transparent rental housing will be put in place\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eThe Start of the Special Relief on Home Loan Interest\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eIn the 2016 Budget, for home loan interest payment deductions, it inserted Section 80EE to the Income Tax Act of 1961. The benefits under this section are over and above the benefits u/s 24. Check out the provisions of 80EE below:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThese deductions are applicable for a home loan sanctioned between April 1, 2016 and March 31, 2017\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe benefit under this section is limited to interest paid up to ₹50,000\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIt laid down a condition wherein the loan sanctioned for residential property should not exceed ₹35 lakhs\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThis deduction is available with the deduction under Section 24\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eYou can claim these deductions till you repay the loan in its entirety \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eIncrease in the Special Relief on Home Loan Interest\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe government extended the deductions available for homebuyers through the 2019 Budget for home loan interest payments provision. Section 80EEA was inserted for the same. The following are the provisions of this section-\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThese deductions are limited to interest paid up to ₹1.5 lakhs in a financial year\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThese benefits are only available for first-time buyers of residential property\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThese deductions are applicable for loans sanctioned between April 1, 2019 and March 31, 2020\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSubsequently, the Government extended the last date from March 31, 2020 to March 31, 2022 in the Finance Act of 2021\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThis section did not lay any limit on the amount of loan sanctioned by the financial institution to be eligible for this benefit\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eTo be eligible for these deductions, the stamp duty value of such property should not exceed ₹45 lakhs\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eYou can’t claim tax benefits under this section if you are claiming the benefits of 80EE\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eWhen getting a home, the initial down payment and other expenses can still pose a hurdle despite the reliefs announced in the Budget 2024. To bridge this gap and make your dream home a reality, you can get an \u003ca href=\\\"https://www.fibe.in/personal-loan/\\\"\u003eInstant Personal Loan\u003c/a\u003e\u0026nbsp;of up to ₹5 lakhs from Fibe.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThrough a quick and hassle-free application process, you can access the funds you need without delays and with minimal paperwork. Download our\u0026nbsp;\u003ca href=\\\"https://www.fibe.in/personal-loan-app/\\\"\u003ePersonal Loan App\u003c/a\u003e\u0026nbsp;or apply directly via our website.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eFAQs on Budget 2024 Updates About Deductions on Home Loan Interest \u003c/h2\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eWhat were the expectations from Budget 2024?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eThe Union Government has presented its first Budget of this term. As per the 2024 Budget updates, given below were some of the expectations of taxpayers:\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eHigher allocation towards the healthcare and education sectors\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSingle-window clearance for real estate projects to avoid delays\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eReturn of deductions on home loan interest payments\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIncentive schemes to promote IT services\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eLower corporate tax rates \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSimplified labour laws to reduce compliance costs of the manufacturing sector\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eWhat is the maximum deduction for home loan interest?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eYou can claim a deduction of up to ₹2 lakhs per financial year on interest payments of housing loans u/s 24. Any additional interest can be claimed as a deduction u/s 80EE or 80EEA, which have a limit of ₹50,000 and ₹1.5 lakhs respectively.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eCan we claim both 80EE and 80EEA?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eNo, you cannot enjoy tax benefits available under Sections 80EE and 80EEA simultaneously.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eWhat is the difference between Sections 24(b) and 80EEA?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eCheck out the distinguishing provisions of these two sections-\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSection 24(b) allows you to enjoy deductions of up to ₹2 lakhs on interest payments of home loans for self-occupied properties. There is no limit for let-out properties. \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSection 80EEA enables you to claim an additional deduction of up to ₹1.5 lakhs on home loan interest payments, provided you don’t claim a deduction u/s 80EE.\u003c/li\u003e\\n\u003c/ul\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAccording to the Budget 2024 live updates, there have been significant announcements that will affect your tax liabilities. For the upcoming Budget Session of the Parliament, taxpayers were expecting the deduction on home loan interest payments to be back. Such an announcement would complement the government’s initiative of providing ‘Affordable Housing for All.’\u0026nbsp; To know \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/budget-2024-deduction-on-home-loan-interest-payments-expected-to-return/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Budget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":33899,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43807\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":33899,\"alt_text\":\"Union budget 2024 sectors\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2560,\"height\":1707,\"file\":\"2023/05/Personal-Loan-foreclosure-charges.png\",\"filesize\":360856,\"sizes\":{\"medium\":{\"file\":\"Personal-Loan-foreclosure-charges-300x200.png\",\"width\":300,\"height\":200,\"mime-type\":\"image/png\",\"filesize\":46773,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-300x200.png\"},\"large\":{\"file\":\"Personal-Loan-foreclosure-charges-1024x683.png\",\"width\":1024,\"height\":683,\"mime-type\":\"image/png\",\"filesize\":298712,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-1024x683.png\"},\"thumbnail\":{\"file\":\"Personal-Loan-foreclosure-charges-150x150.png\",\"width\":150,\"height\":150,\"mime-type\":\"image/png\",\"filesize\":27004,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-150x150.png\"},\"medium_large\":{\"file\":\"Personal-Loan-foreclosure-charges-768x512.png\",\"width\":768,\"height\":512,\"mime-type\":\"image/png\",\"filesize\":200227,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-768x512.png\"},\"1536x1536\":{\"file\":\"Personal-Loan-foreclosure-charges-1536x1024.png\",\"width\":1536,\"height\":1024,\"mime-type\":\"image/png\",\"filesize\":733041,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-1536x1024.png\"},\"2048x2048\":{\"file\":\"Personal-Loan-foreclosure-charges-2048x1366.png\",\"width\":2048,\"height\":1366,\"mime-type\":\"image/png\",\"filesize\":1216776,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-2048x1366.png\"},\"post-thumbnail\":{\"file\":\"Personal-Loan-foreclosure-charges-1568x1046.png\",\"width\":1568,\"height\":1046,\"mime-type\":\"image/png\",\"filesize\":1085186,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-1568x1046.png\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges.png\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eBudget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"As per the Budget 2024 live updates, there have been no changes in the provision for deductions on home loan interest payments. Learn more on Fibe.\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/budget-2024-deduction-on-home-loan-interest-payments-expected-to-return/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Budget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"As per the Budget 2024 live updates, there have been no changes in the provision for deductions on home loan interest payments. 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The ‘12\u003csup\u003eth\u003c/sup\u003e Fail’ fame actor will now be part of the company’s advertisement and marketing campaigns.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eOnboarding Massey, known for his relatable charm, underscores Fibe’s commitment to connecting with the millennial and Gen Z demographic.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eNo More ‘Agli Baar’ Campaign\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eSudhir Shetty, Founder \u0026amp; Director at VeryBusyPeople Film Production House said, “The inspiration for this campaign came from the stories of everyday life of the youth who have many dreams and aspirations but avoid making smallest of purchases and push it to ‘Agli Baar’ because of financial constraints. Through the ‘NoMoreAgliBaar’ campaign, we want to inspire them to seize the opportunities with the support of Fibe’s financial solutions. Leveraging Massey’s relatable appeal with the youth, we aim to create a powerful connection with Gen Z and millennials while enabling them with easily accessible financial solutions,”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo reflect this, the campaign will present Massey as the protagonist and narrator (Sutradhar) guiding young Indians to break free from the practice of postponing dreams. Through it, Massey will showcase Fibe’s user-friendly application and highlight the ease with which customers can access credit to achieve all goals and aspirations. It will outline how Fibe empowers individuals by providing accessible financial solutions for all needs.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eMassey as the Perfect Fit\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eSudesh Shetty, Founding Member and EVP – Marketing said, “We are thrilled to welcome Vikrant Massey to the Fibe family. Vikrant\u0026#8217;s relatable and authentic persona makes him the perfect fit to represent the brand Fibe. Fibe has remained committed to upgrading the lifestyle of the salaried class while ensuring to encourage responsible buying behaviour. Vikrant’s connect with the younger generation will significantly boost our efforts in engaging with the audiences and empower them with the Fibe app through which they can avail our offerings in an easy manner.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMassey himself echoed this sentiment and said, “I am delighted to collaborate with Fibe in its mission of helping people fulfil their dreams with confidence and ease. The brand not only helps underserved individuals avail financial services but also empowers them with financial independence.”\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eBuilding a Financial Ecosystem for Young India\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eFibe has also announced the integrated launch of this initiative. The brand will prominently feature it across digital and social media platforms to ensure widespread visibility and engagement.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe company\u0026#8217;s commitment extends far beyond traditional loans, offering a diverse range of ‘Impact Loans’ designed to empower young India. This includes financing for education (EdTech loans), healthcare needs, and even insurance premiums. The company has established a comprehensive financial ecosystem with an array of products to simplify personal finances.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe\u0026#8217;s innovative approach makes it a reality for youth to sign up for online courses for career growth or get medical treatment via:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSalary Advances\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003ePersonal Loans\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eInstant Cash Options\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eBuy Now Pay Later facilities across health and education\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eFibe\u0026#8217;s recent success further bolsters this commitment to financial inclusion. The company recently secured a US$90 million in Series E funding, a testament to its dedication to transforming the lives of young Indians.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn a strategic move to boost its reach among India’s youth, Fibe has named renowned Bollywood actor Vikrant Massey as its brand ambassador. The ‘12th Fail’ fame actor will now be part of the company’s advertisement and marketing campaigns. Onboarding Massey, known for his relatable charm, underscores Fibe’s commitment to connecting with the millennial and \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-ropes-in-12th-fail-actor-vikrant-massey-as-its-brand-ambassador/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":43653,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43568\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":43653,\"alt_text\":\"News 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":1201,\"height\":601,\"file\":\"2024/07/Vikrant-blog-banner-copy-100-1.jpg\",\"filesize\":364742,\"sizes\":{\"medium\":{\"file\":\"Vikrant-blog-banner-copy-100-1-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":36802,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-300x150.jpg\"},\"large\":{\"file\":\"Vikrant-blog-banner-copy-100-1-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":84215,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-1024x512.jpg\"},\"thumbnail\":{\"file\":\"Vikrant-blog-banner-copy-100-1-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":34650,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-150x150.jpg\"},\"medium_large\":{\"file\":\"Vikrant-blog-banner-copy-100-1-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":62669,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-768x384.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"Vikrant-blog-banner-copy-100-1-640x601.jpg\",\"width\":640,\"height\":601,\"mime-type\":\"image/jpeg\",\"filesize\":76541,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-640x601.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"Vikrant-blog-banner-copy-100-1-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":32496,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"Vikrant-blog-banner-copy-100-1-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":32449,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":43568,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-ropes-in-12th-fail-actor-vikrant-massey-as-its-brand-ambassador/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"In a strategic move to boost its reach among India’s youth, Fibe has named renowned Bollywood actor Vikrant Massey as its brand ambassador. The ‘12th Fail’ fame actor will now be part of the company’s advertisement and marketing campaigns. 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This surge highlights a significant shift in travel financing preferences, especially among millennials and Gen Z.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003ePopular Destinations and Travel Trends\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eShort-haul international destinations such as the UAE, Thailand, Singapore, Indonesia, Maldives, Nepal, and Vietnam have emerged as top choices, witnessing a 33% increase in demand compared to last year. Additionally, pilgrimage sites like Ayodhya, Tirupati, and Shirdi have seen an 11% uptick in bookings, reflecting various travel interests among Indians.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDomestic travel has also seen a substantial rise, with a 13% increase in bookings. Popular destinations include Goa, Rajasthan, Varanasi, Kerala, Manali, Ooty, Darjeeling, Coorg, Visakhapatnam, Pondicherry, Srinagar, Amritsar, Gangtok, and Rishikesh. Notably, queries for Lakshadweep surged by 15%, while the Maldives continues to be a favourite for beach enthusiasts.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eThe Growing Popularity of TNPL\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe growing popularity of travel financing solutions like TNPL underscores a broader trend: the desire among youth to manage their finances effectively while not deferring travel plans due to financial constraints. The demand for TNPL is particularly high among individuals aged 26-45, especially in cities such as Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi-NCR, Hyderabad, Jaipur, Lucknow, Mumbai, and Pune.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSolo Travellers Leading the Charge\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInterestingly, solo travellers have been the primary drivers of this trend, showcasing how TNPL caters to evolving customer needs by adding convenience and flexibility to travel plans. The average ticket size for TNPL has increased by 60% over the last year, with most individuals preferring to repay the total amount within six months.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eExpert Insights\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBalakrishnan Narayanan, Fibe’s Head of Product \u0026amp; Analytics, commented, “We are witnessing an increased demand for TNPL, especially among the youth and tech-savvy individuals. At Fibe, we provide financial solutions for every need of our customers, and with TNPL, we aim to add flexibility to their travel plans. This solution adds convenience and makes travel more affordable, allowing individuals to explore their dream destinations without financial worries.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAkash Dahiya, Co-founder \u0026amp; CEO of SanKash, expressed his enthusiasm, saying, “We’re thrilled to see the surge in demand for travel this year, especially with the increasing popularity of TNPL. SanKash is committed to providing seamless and affordable travel financing solutions, and we’re proud to partner with Fibe to make travel dreams a reality for more people.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAbout Fibe\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFormerly known as EarlySalary, Fibe is a leading consumer lending app in India, focused on young, aspirational, and tech-savvy consumers. It offers a range of financial products, including Cash Loans, long-term Personal Loans, and Buy Now Pay Later plans. The company boasts a 100% digital loan application process that can be completed in seconds.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card, India\u0026#8217;s first numberless metal credit card, providing high security and reducing the risk of misuse. With a scalable business model, Fibe has received a BBB+ rating from CARE Ratings and ISO/IEC 2001 certification for its Information Security Management System (ISMS). The company has disbursed over 5.7 million loans worth more than Rs. 18,300 crore.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAbout SanKash\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSanKash is a leading travel fintech platform, empowering travel agents and travellers with a wide range of flexible payment options, competitive forex rates, and diverse insurance plans. The company aims to make travel planning smoother and more affordable for everyone.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eConclusion\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe increasing demand for \u0026#8216;Travel Now, Pay Later\u0026#8217; options reflects a broader trend of financial innovation and consumer empowerment in the travel sector. With Fibe and SanKash leading the charge, more individuals can now explore their dream destinations without financial worries, making travel more accessible and enjoyable.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn June 2024, a groundbreaking study by Fibe, India’s leading fintech, in collaboration with travel fintech firm SanKash, reported a remarkable 2.5X increase in the demand for their \u0026#8216;Travel Now, Pay Later\u0026#8217; (TNPL) offering over the past year. This surge highlights a significant shift in travel financing preferences, especially among millennials and Gen Z. Popular \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/surge-in-demand-for-travel-now-pay-later-with-fibe-and-sankash/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;2.5X Surge in Demand for Travel Now, Pay Later with Fibe and SanKash\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":43401,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43390\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":43401,\"alt_text\":\"News 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/06/blog-june2.jpg\",\"filesize\":177469,\"sizes\":{\"medium\":{\"file\":\"blog-june2-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4117,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-300x150.jpg\"},\"large\":{\"file\":\"blog-june2-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":25332,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-1024x512.jpg\"},\"thumbnail\":{\"file\":\"blog-june2-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":3470,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-150x150.jpg\"},\"medium_large\":{\"file\":\"blog-june2-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":16473,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-768x384.jpg\"},\"1536x1536\":{\"file\":\"blog-june2-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":47060,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"blog-june2-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":48639,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"blog-june2-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":41141,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"blog-june2-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":1929,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"blog-june2-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":1661,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":43390,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/blog-june2.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003e2.5X Surge in Demand for Travel Now, Pay Later with Fibe and SanKash - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/surge-in-demand-for-travel-now-pay-later-with-fibe-and-sankash/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"2.5X Surge in Demand for Travel Now, Pay Later with Fibe and SanKash - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"In June 2024, a groundbreaking study by Fibe, India’s leading fintech, in collaboration with travel fintech firm SanKash, reported a remarkable 2.5X increase in the demand for their \u0026#8216;Travel Now, Pay Later\u0026#8217; (TNPL) offering over the past year. 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The company\u0026#8217;s journey has been recognised in the ASK Private Wealth Hurun Indian Future Unicorn Index 2024. This year, Fibe\u0026#8217;s progress is notable as it has transitioned from a \u0026#8220;Cheetah\u0026#8221; to a \u0026#8220;Gazelle\u0026#8221;, showcasing its potential to achieve unicorn status within three years. Here\u0026#8217;s a deeper understanding of Fibe and the genesis of the Indian Startup Scene.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSignificant Milestone: From Cheetah to Gazelle\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe ASK Private Wealth Hurun India Future Unicorn Index identifies the most promising private equity or venture capital-funded companies in India poised to become unicorns. In the previous edition of the report, Fibe was listed as a Cheetah, indicating its potential to become a Unicorn within five years. This year, Fibe\u0026#8217;s impressive growth trajectory has elevated it to the Gazelle category, highlighting its accelerated path towards achieving a billion-dollar valuation within three years.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eThe Journey of Fibe\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe\u0026#8217;s inclusion in the Gazelle category only consolidates the assertion that it has a robust business model, strategies and strong market. This achievement ensures that Fibe has achieved its goal of being able to scale, source investment and be innovative in a highly competitive market.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eComparative Analysis: The Broader Startup Ecosystem\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eNevertheless, the rise of Fibe is not an uncommon tale within the Indian Startup ecosystem. The 2024 index features 152 future unicorns from 31 cities and is dominated by software and services companies. Despite the adverse economic challenges and the emergence of a more stringent funding environment, 38 firms are new to the index across various industries, including AI, space technology, and EV/ renewable energy.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSocial Trends and Insights\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFintech tops the Gazelle list with eight representatives, while SaaS appears to be next with six. Both artificial intelligence and EdTech had five Gazelles on the list. This diversity indicates the broad-based growth and innovation that is now taking place across the spectrum of the Indian economy.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eProminent Startups and Market Dynamics\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSome companies are already unicorns, while others have been removed from the index because of shrinking values. For example, Zepto has crossed the $1 billion mark in valuation along with InCred Finance and Porter, which depicts the company\u0026#8217;s influence and investors\u0026#8217; trust. Conversely, companies like Dunzo, Koo, Practo and Jar were de-listed due to a fall in their respective valuations; this gave credence to the reality that the startup space is fluctuating and requires fundamentals of sound sustainable business models.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eKey Takeaways for Startups\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSustainable Growth:\u003c/strong\u003e\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe transition of Fibe\u0026#8217;s strategy from Cheetah to Gazelle demonstrates the crucial role of sustainable growth and strong business models. Startup success depends on the ability to generate adequate revenues and the viability of the business model to attract further funding.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAdaptability\u003c/strong\u003e:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe dynamic nature of the startup ecosystem requires companies to be adaptable. This goes directly to the point that adaptation to current market conditions is a key to survival and further development.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInvestor Confidence:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe index, such as the ASK Private Wealth Hurun India Future Unicorn Index, has many benefits for startups and increases their credibility among investors.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eLeveraging Sectoral Opportunities:\u003c/strong\u003e\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEmerging industries such as fintech, SaaS, AI, and the EdTech industry present vast opportunities for startups. Companies operating in these domains should take advantage of emerging sectoral trends and investors\u0026#8217; interest in growing.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eConclusion\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe transition of Fibe to the Gazelle level in the ASK Private Wealth Hurun India Future Unicorn Index 2024 proves its high growth and potential in the company. The evolution of Fibe as the Indian Startup ecosystem persists can help other startups in the same niche plan to tread through the journey. By focusing on sustainable growth, adaptability, and leveraging sectoral opportunities, startups can aspire to join the ranks of future unicorns, contributing to India\u0026#8217;s dynamic and innovative economy.\u0026nbsp;\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn the ever-evolving landscape of startups, Fibe has carved out a powerful image for itself by experiencing considerable growth and building strong immune systems. The company\u0026#8217;s journey has been recognised in the ASK Private Wealth Hurun Indian Future Unicorn Index 2024. This year, Fibe\u0026#8217;s progress is notable as it has transitioned from a \u0026#8220;Cheetah\u0026#8221; to \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rising-through-the-ranks-in-india-startup-ecosystem/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe: Rising Through the Ranks in Startup Ecosystem\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":43389,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43386\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":43389,\"alt_text\":\"News 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":512,\"height\":256,\"file\":\"2024/06/unnamed-3.jpg\",\"filesize\":6141,\"sizes\":{\"medium\":{\"file\":\"unnamed-3-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":2156,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/unnamed-3-300x150.jpg\"},\"thumbnail\":{\"file\":\"unnamed-3-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":1809,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/unnamed-3-150x150.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"unnamed-3-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":1029,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/unnamed-3-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"unnamed-3-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":937,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/unnamed-3-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":43386,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/unnamed-3.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe: Rising Through the Ranks in Startup Ecosystem - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/rising-through-the-ranks-in-india-startup-ecosystem/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe: Rising Through the Ranks in Startup Ecosystem - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"In the ever-evolving landscape of startups, Fibe has carved out a powerful image for itself by experiencing considerable growth and building strong immune systems. The company\u0026#8217;s journey has been recognised in the ASK Private Wealth Hurun Indian Future Unicorn Index 2024. This year, Fibe\u0026#8217;s progress is notable as it has transitioned from a \u0026#8220;Cheetah\u0026#8221; to \u0026hellip; Continue reading \u0026quot;Fibe: Rising Through the Ranks in Startup Ecosystem\u0026quot;\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/rising-through-the-ranks-in-india-startup-ecosystem/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2024-06-27T12:18:38+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://altcont.fibe.in/wp-content/uploads/2024/06/unnamed-3.jpg\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"512\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"256\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"3 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Fibe: Rising Through the Ranks in Startup Ecosystem - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"robots\":{\"index\":\"index\",\"follow\":\"follow\",\"max-snippet\":\"max-snippet:-1\",\"max-image-preview\":\"max-image-preview:large\",\"max-video-preview\":\"max-video-preview:-1\"},\"canonical\":\"https://altcont.fibe.in/news/rising-through-the-ranks-in-india-startup-ecosystem/\",\"og_locale\":\"en_US\",\"og_type\":\"article\",\"og_title\":\"Fibe: Rising Through the Ranks in Startup Ecosystem - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"og_description\":\"In the ever-evolving landscape of startups, Fibe has carved out a powerful image for itself by experiencing considerable growth and building strong immune systems. 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One solution for all life’s big and small upgrades. 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Despite the turbulent global environment, the Indian economy is poised for a transformative era, bolstered by a favourable demographic, improved productivity and technology, and a supportive policy environment. These factors collectively enhance the prospects for sustained high growth in the coming years.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAs the Reserve Bank of India (RBI) approaches its centenary, it aims to further enhance its global footprint and position itself as a model central bank for the global south. Detailed strategies for this goal are outlined in an annexe to the Governor\u0026#8217;s statement, which is intended to be a dynamic document evolving with the changing global landscape.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eAdditional Measures Announced\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI has introduced several measures to strengthen financial frameworks and digital payment systems:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eReview of Bulk Deposits Limit:\u003c/strong\u003e The RBI proposed revising the definition of bulk deposits to \u0026#8216;Single Rupee term deposit of ₹3 crore and above\u0026#8217; for scheduled commercial banks (SCBs), excluding regional rural banks (RRBs) and small finance banks (SFBs). For local area banks, the bulk deposit limit will be \u0026#8216;Single Rupee term deposits of ₹1 crore and above\u0026#8217;.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eRationalisation of FEMA Guidelines:\u003c/strong\u003e To align with changing international trade dynamics and liberalise foreign exchange regulations, the RBI plans to rationalise FEMA guidelines on the export and import of goods and services. Draft guidelines will be issued soon for stakeholder feedback.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eDigital Payments Intelligence Platform:\u003c/strong\u003e In response to increasing digital payment frauds, the RBI will establish a Digital Payments Intelligence Platform for network-level intelligence and real-time data sharing across the digital payments ecosystem.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eRecurring Payments Inclusion under e-Mandate Framework:\u003c/strong\u003e The RBI proposed recurring payments such as Fastag and National Common Mobility Card (NCMC) replenishments under the e-mandate framework, enhancing convenience for travel-related payments.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAuto-Replenishment of UPI Lite Wallet:\u003c/strong\u003e To encourage wider adoption of UPI Lite, the RBI will introduce an auto-replenishment feature under the e-mandate framework, enabling seamless small-value digital payments.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eHaRBInger 2024 – Innovation for Transformation:\u003c/strong\u003e The third edition of RBI\u0026#8217;s global hackathon, \u0026#8216;HaRBInger 2024,\u0026#8217; will soon launch with themes focusing on zero financial frauds and inclusivity for the differently-abled.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eEconomic Resilience, Policy Measures, and Financial Stability\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eIndia\u0026#8217;s economy, buoyed by robust GDP growth of 8.2% in 2023-24 and strong domestic demand, navigates challenges from escalating food prices and global uncertainties. The Reserve Bank of India (RBI) has maintained a steady policy repo rate at 6.50%, emphasising inflation control alongside growth support. Financial markets remain stable with effective liquidity management and a resilient banking sector. Despite recent fluctuations in foreign investments, India continues to attract significant capital inflows, bolstered by substantial foreign exchange reserves reaching US$ 651.5 billion as of May 2024. A promising monsoon forecast is expected to bolster agricultural production and urban consumption, further enhancing economic prospects. The RBI\u0026#8217;s proactive measures include revising deposit limits, streamlining FEMA guidelines, and launching the HaRBInger 2024 hackathon to foster financial innovation and ensure economic stability.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eConclusion\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI promises to keep the economy steady and growing. With prices going down, the RBI is in a good position to use money rules to control prices and help the economy grow. As the world\u0026#8217;s money situation changes, the RBI\u0026#8217;s rules will keep a focus on making sure the economy grows while prices stay steady, showing the strength and ability needed in today\u0026#8217;s economy. Make it better to tell what might happen in the future and what\u0026#8217;s happening now, and ask questions.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn June 2024, amidst a series of global crises, India\u0026#8217;s economy continued to demonstrate robust fundamentals, financial stability, and positive growth momentum, according to the latest statement by the Governor. Despite the turbulent global environment, the Indian economy is poised for a transformative era, bolstered by a favourable demographic, improved productivity and technology, and a \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/governor-highlights-resilience-and-future-preparedness-of-indian-economy/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Governor Highlights Resilience and Future Preparedness of Indian Economy\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":43220,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43219\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":43220,\"alt_text\":\"RBI MPC\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/06/MPC_Banner.jpg\",\"filesize\":245095,\"sizes\":{\"medium\":{\"file\":\"MPC_Banner-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7444,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-300x150.jpg\"},\"large\":{\"file\":\"MPC_Banner-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":36800,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-1024x512.jpg\"},\"thumbnail\":{\"file\":\"MPC_Banner-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4130,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-150x150.jpg\"},\"medium_large\":{\"file\":\"MPC_Banner-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":25520,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-768x384.jpg\"},\"1536x1536\":{\"file\":\"MPC_Banner-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":64712,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"MPC_Banner-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":67095,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"MPC_Banner-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":27470,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"MPC_Banner-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":2256,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"MPC_Banner-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":2841,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":43219,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eGovernor Highlights Resilience and Future Preparedness of Indian Economy - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/governor-highlights-resilience-and-future-preparedness-of-indian-economy/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Governor Highlights Resilience and Future Preparedness of Indian Economy - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"In June 2024, amidst a series of global crises, India\u0026#8217;s economy continued to demonstrate robust fundamentals, financial stability, and positive growth momentum, according to the latest statement by the Governor. Despite the turbulent global environment, the Indian economy is poised for a transformative era, bolstered by a favourable demographic, improved productivity and technology, and a \u0026hellip; Continue reading \u0026quot;Governor Highlights Resilience and Future Preparedness of Indian Economy\u0026quot;\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/governor-highlights-resilience-and-future-preparedness-of-indian-economy/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2024-06-18T12:15:56+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://altcont.fibe.in/wp-content/uploads/2024/06/MPC_Banner.jpg\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"2000\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"1000\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"3 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Governor Highlights Resilience and Future Preparedness of Indian Economy - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"robots\":{\"index\":\"index\",\"follow\":\"follow\",\"max-snippet\":\"max-snippet:-1\",\"max-image-preview\":\"max-image-preview:large\",\"max-video-preview\":\"max-video-preview:-1\"},\"canonical\":\"https://altcont.fibe.in/news/governor-highlights-resilience-and-future-preparedness-of-indian-economy/\",\"og_locale\":\"en_US\",\"og_type\":\"article\",\"og_title\":\"Governor Highlights Resilience and Future Preparedness of Indian Economy - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"og_description\":\"In June 2024, amidst a series of global crises, India\u0026#8217;s economy continued to demonstrate robust fundamentals, financial stability, and positive growth momentum, according to the latest statement by the Governor. 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An SRO, or Self-regulatory Organisation, is a body that establishes and enforces industry standards and regulations. Composed of industry members, it ensures integrity and ethical behaviour by regulating its peers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis development follows feedback from stakeholders on a draft released by the RBI on 24th January. The finalised framework aims to establish SROs within the fintech sector to set and regulate legal standards, ensuring a responsible and organised fintech ecosystem within India\u0026#8217;s borders.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe newly approved SROs will be led by industry players and will bear the responsibility for setting and enforcing regulatory standards, promoting ethical behaviour, ensuring market integrity, resolving disputes, and promoting transparency and accountability among members. This initiative seeks to address the unique challenges facing the fintech sector while fostering innovation and expansion.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn September, RBI Governor Shaktikanta Das emphasised the importance of this initiative, calling for a self-regulatory body to address the peculiar challenges facing the fintech sector. An initial draft was presented in January, followed by public consultations to refine the framework.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eKey Elements of the Framework\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe rules mandate that SROs use a representative structure by leveraging accumulated knowledge and experiences. The overarching goal is to implement guidelines that are universal across all fintech areas and can be easily enforced. This approach ensures that SROs can effectively respond to diverse demands, meeting the needs of various fintech organisations.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAdditionally, the RBI has directed SROs to encourage their members to align with regulatory priorities and maintain open communication with the central bank. This collaborative effort aims to achieve regulatory objectives while promoting innovation and growth within the fintech field. By establishing a communication channel between regulatory components and affected agents, SROs can help ensure that regulations keep pace with technological changes and market demands.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eOwnership and Membership\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo prevent any single entity from exerting undue influence, no person or entity is allowed to hold more than 10% of an SRO\u0026#8217;s fully paid capital. The guidelines also permit the inclusion of fintech companies from other jurisdictions into the Indian system, enhancing international collaboration and harmonisation. This approach is expected to better position Indian fintech enterprises to compete globally by adopting leading practices from around the world.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eIndustry Growth and Challenges\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith the fintech industry in India experiencing significant growth due to increasing demand for digital payments and loans, there is a clear need for robust regulations. The rapid expansion of this sector has raised concerns regarding consumer protection, data privacy, and other issues, which the SRO framework aims to address. Given the growing reliance on fintech solutions by individuals and businesses, strong regulatory oversight has become essential.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe new framework addresses these issues by adopting a self-regulatory approach that is both manageable and adaptable. By allowing the sector to police itself, the RBI hopes to promote a flexible and efficient regulatory regime capable of keeping up with the fast-paced changes in the fintech industry.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eFinancial and Operational Requirements\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSROs must meet specific financial requirements to be recognised by SEBI, ensuring they are well-equipped for performance and oversight. The fintech sector should be comprehensively represented by the SRO, encompassing entities of various sizes, stages of development, and activities. Additionally, leading managers and directors of SROs should uphold professionalism and fairness.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u0026#8220;This comprehensive representation is crucial for the legitimacy and effectiveness of the SRO. By encompassing all types of fintech entities, the SRO can ensure its standards and rules address the needs and perspectives of diverse industry representatives.\u0026#8221;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eImplementation and Future Outlook\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI will evaluate applications to determine how many SROs to recognise, with a focus on high standards in fintech. This selective process underscores the RBI\u0026#8217;s commitment to ensuring that only competent and genuine firms are appointed as regulators.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe framework is anticipated to play a pivotal role in shaping the future of India\u0026#8217;s fintech sector, balancing innovation with regulatory compliance. The RBI aims to implement this framework soon, enabling self-regulatory organisations to start operating and helping to steer the evolving regulatory landscape.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis framework could serve as a model for other sectors, demonstrating that enforced self-regulation can promote business advancement and originality while safeguarding public interest.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn May 2024, the Reserve Bank of India (RBI) finalised a framework for recognising Self-regulatory Organisations (SROs) in the fintech sector. An SRO, or Self-regulatory Organisation, is a body that establishes and enforces industry standards and regulations. Composed of industry members, it ensures integrity and ethical behaviour by regulating its peers. This development follows feedback \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rbi-finalises-framework-for-self-regulatory-body-in-fintech-sector/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;RBI Finalises Framework for Self-Regulatory Body in Fintech Sector\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":42830,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-42829\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":42830,\"alt_text\":\"RBI's SRO Framework\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/06/RBI_SRO-Banner.jpg\",\"filesize\":392672,\"sizes\":{\"medium\":{\"file\":\"RBI_SRO-Banner-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":30637,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-300x150.jpg\"},\"large\":{\"file\":\"RBI_SRO-Banner-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":70963,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-1024x512.jpg\"},\"thumbnail\":{\"file\":\"RBI_SRO-Banner-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":27243,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-150x150.jpg\"},\"medium_large\":{\"file\":\"RBI_SRO-Banner-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":55200,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-768x384.jpg\"},\"1536x1536\":{\"file\":\"RBI_SRO-Banner-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":107121,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"RBI_SRO-Banner-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":109931,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"RBI_SRO-Banner-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":66189,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"RBI_SRO-Banner-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":24579,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"RBI_SRO-Banner-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":24991,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":42829,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/RBI_SRO-Banner.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eRBI Finalises Framework for Self-Regulatory Body in Fintech Sector - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/rbi-finalises-framework-for-self-regulatory-body-in-fintech-sector/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"RBI Finalises Framework for Self-Regulatory Body in Fintech Sector - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"In May 2024, the Reserve Bank of India (RBI) finalised a framework for recognising Self-regulatory Organisations (SROs) in the fintech sector. 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One solution for all life’s big and small upgrades. Visit Now.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://altcont.fibe.in/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}},\"yoast_meta\":{\"yoast_wpseo_title\":\"\",\"yoast_wpseo_metadesc\":\"\",\"yoast_wpseo_canonical\":\"\"},\"_links\":{\"self\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/42829\",\"targetHints\":{\"allow\":[\"GET\"]}}],\"collection\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news\"}],\"about\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/types/news\"}],\"author\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/users/32\"}],\"replies\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/comments?post=42829\"}],\"version-history\":[{\"count\":1,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/42829/revisions\"}],\"predecessor-version\":[{\"id\":42831,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/42829/revisions/42831\"}],\"wp:featuredmedia\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media/42830\"}],\"wp:attachment\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media?parent=42829\"}],\"wp:term\":[{\"taxonomy\":\"post_tag\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/tags?post=42829\"},{\"taxonomy\":\"news-category\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news-category?post=42829\"}],\"curies\":[{\"name\":\"wp\",\"href\":\"https://api.w.org/{rel}\",\"templated\":true}]}},{\"id\":42768,\"date\":\"2024-06-05T17:40:53\",\"date_gmt\":\"2024-06-05T12:10:53\",\"guid\":{\"rendered\":\"https://altcont.fibe.in/?post_type=news\u0026#038;p=42768\"},\"modified\":\"2024-06-10T11:21:34\",\"modified_gmt\":\"2024-06-10T05:51:34\",\"slug\":\"fibe-raises-usd-90-mn-in-series-e-round\",\"status\":\"publish\",\"type\":\"news\",\"link\":\"https://altcont.fibe.in/news/fibe-raises-usd-90-mn-in-series-e-round/\",\"title\":{\"rendered\":\"Fibe Raises USD 90 mn in Series E round\"},\"content\":{\"rendered\":\"\\n\u003cdiv class=\\\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-1 wp-block-group-is-layout-flex\\\"\u003e\\n\u003cp class=\\\"has-text-align-center\\\"\u003e\u003cem\u003e~ New Investors leading the round include TR Capital, Trifecta Capital and Amara Partners ~\u003c/em\u003e\u003cstrong\u003e\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp class=\\\"has-text-align-center\\\"\u003e\u003cem\u003e~ Existing investors TPG Rise Fund, Norwest Ventures Partners, Eight Roads Ventures and Chiratae Ventures also participated in the fundraise ~\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp class=\\\"has-text-align-center\\\"\u003e\u003cem\u003e\u003cem\u003e~Round also includes both Primary and Secondary transaction~\u003c/em\u003e\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003c/p\u003e\\n\u003c/div\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eMumbai, June 05, 2024: \u003c/strong\u003e\u003ca href=\\\"https://www.fibe.in/\\\"\u003eFibe\u003c/a\u003e, India’s leading Fintech, has raised USD 90 million in a Series E round led by TR Capital, Trifecta Capital and Amara Partners. Its existing investors TPG Rise Fund, Norwest Venture Partners, Eight Roads Ventures and Chiratae Ventures also participated in the round which included both primary and secondary transactions.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFounded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe (then EarlySalary), the company is now a leader in the consumer lending segment with its personal loan and impact loan portfolio including categories like healthcare loans, edtech loans, insurance financing, school fee financing, and more.\u0026nbsp; With hyper focus on lending technology and risk management systems, Fibe has been able to offer lower credit costs to consumers. The brand also recently launched India’s first numberless co-branded credit card.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMoving beyond a typical financial solutions provider, Fibe is playing a pivotal role in fulfilling the aspirations of young India \u0026#8211; the world\u0026#8217;s largest workforce.\u0026nbsp; The company aims to make rapid strides in its impact lending segment and therefore will deploy the new fund for business expansion, market outreach and curate more tailor-made products across its impact loans portfolio.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003eCommenting on the fund raise, Akshay Mehrotra, Co-founder \u0026amp; CEO, Fibe said,\u003c/strong\u003e \u003cem\u003e“The infusion of new capital not only fuels our growth but also highlights our dedication to empowering India\u0026#8217;s youth on their journey towards fulfilling their dreams. At Fibe, we believe in fostering a culture of responsible lending and borrowing, thereby ensuring that every opportunity we provide aligns with our borrowers\u0026#8217; aspirations and financial well-being. With this new capital injection, we are poised to expand our reach, strengthen our technological infrastructure, and deepen our impact across India. Together, we continue to pave the way for a future where every individual has the tools and support they need to thrive financially.”\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAshish Goyal, Co-founder \u0026amp; CFO, Fibe added, \u003c/strong\u003e\u003cem\u003e“Over the last few years, we have launched multiple financing solutions for healthcare, insurance and education besides our core personal loan offering to provide affordability to customers. The fresh funds will be deployed to further strengthen the existing product lines at Fibe. We remain committed to our journey towards sustainable expansion and are committed to meeting the evolving needs of our customers.”\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe has positively transformed the lives of over 25 million customers, significantly expanding its presence from 18 to 350 cities. Its mission to provide reliable credit solutions to Bharat has empowered countless individuals.\u0026nbsp; It has disbursed more than 6 million loans worth ₹20,000 crores+ since inception.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003e\u003cu\u003eAbout Fibe\u003c/u\u003e\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe (previously EarlySalary) is one of India’s leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfil their aspirations. It has launched a host of financial products like Cash Loans, long-term Personal Loans and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Its technology arm – Social Worth Technologies Pvt. Ltd. has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. Fibe has been certified with ISO/IEC 2001 for its Information Security Management System (ISMS).\u0026nbsp; Today, Fibe has access to debt lines to leading PSUs \u0026amp; Private Banks, Large Notable NBFCs and NDCs. The company has already disbursed more than 6 million+ loans worth Rs. 20,000 Cr+.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eWinner of G20 Digital Innovation Alliance – Best Startup in Fintech\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eWinner of the BFSI Leadership Award at the 5th NBFC100 Tech Summit\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eWinner of Fintech Company of the Year Bharat Fintech Summit\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eDigital Responsibility Award for HealthTech Accessibility – IAMAI\u003c/li\u003e\\n\u003c/ul\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003e~ New Investors leading the round include TR Capital, Trifecta Capital and Amara Partners ~ ~ Existing investors TPG Rise Fund, Norwest Ventures Partners, Eight Roads Ventures and Chiratae Ventures also participated in the fundraise ~ ~Round also includes both Primary and Secondary transaction~ Mumbai, June 05, 2024: Fibe, India’s leading Fintech, has raised USD \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-raises-usd-90-mn-in-series-e-round/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe Raises USD 90 mn in Series E round\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":42781,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[455],\"news-category\":[483,405],\"class_list\":[\"post-42768\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"tag-recent-press-releasee\",\"news-category-news-2024\",\"news-category-recent-press-release\",\"entry\"],\"better_featured_image\":{\"id\":42781,\"alt_text\":\"Series E Funding_Fibe-1\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/06/Blogs-for-website.jpg\",\"filesize\":239256,\"sizes\":{\"medium\":{\"file\":\"Blogs-for-website-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":26529,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-300x150.jpg\"},\"large\":{\"file\":\"Blogs-for-website-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":51226,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-1024x512.jpg\"},\"thumbnail\":{\"file\":\"Blogs-for-website-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":24423,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-150x150.jpg\"},\"medium_large\":{\"file\":\"Blogs-for-website-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":41605,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-768x384.jpg\"},\"1536x1536\":{\"file\":\"Blogs-for-website-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":74991,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"Blogs-for-website-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":76481,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"Blogs-for-website-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":47412,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"Blogs-for-website-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":22820,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"Blogs-for-website-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":23196,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":42768,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/06/Blogs-for-website.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe Raises USD 90 mn in Series E round - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"Fibe, India’s leading Fintech, has raised USD 90 million in a Series E round led by TR Capital, Trifecta Capital and Amara Partners. 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LSPs are third-party entities that perform some of the bank’s functions, such as customer acquisition, loan recovery, and more. These also include certain Regulated Entities (REs).\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis RBI notification seeks to enhance transparency and fairness for borrowers, helping them make informed decisions. To know more about the latest RBI guidelines and directives, read on.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eRBI’s Observations on Aggregation of Loans\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eOn September 2, 2022, RBI issued Guidelines on Digital Lending. It reiterated that Regulated Entities who have entered into arrangements with an LSP have to conform to the guidelines of outsourcing.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe focus of these guidelines was ‘customer centricity’ through the promotion of transparency. However, the RBI made the following observations about the current practices:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eMany lending service providers offer aggregation services for loans\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eHere, many lending service providers or REs acting as LSPs have outsourcing arrangements with different lenders and Digital Lending App/ Platform (DLA)\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe LSPs match the borrower with one of these lenders/DLA\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIn many of these cases where LSP has multiple arrangements with several lenders, the potential identity of the lender may not be revealed to the borrower\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eAdvice to REs in the Draft Guidelines\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eAfter its monetary policy meeting in December 2023, the regulator indicated that it would lay down regulations for web aggregation of loan products. In the draft framework, RBI has advised LSPs/REs to follow practices to ensure that borrowers have prior knowledge about the lenders:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThe LSP must provide the borrower with a digital view of all its available loan offers from willing lenders as per their requirements\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIn this process, RBI has provided flexibility to LSPs to adopt any mechanism to get the lender’s willingness to offer loans\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eLending services providers need to follow a consistent approach to ascertain the lender\u0026#8217;s willingness, which they shall display on their website\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe digital view must allow the borrower to compare different loan offers\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThey need to provide the name of the RE and details of the loan amount, tenure, interest rates, and other key information\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eFor each RE, the lending service providers also need to offer a Key Facts Statement (KFS)\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe content displayed needs to be unbiased and must not directly or indirectly promote a particular loan product\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eLSPs also cannot use any deceptive practices or patterns, such as dark patterns that mislead the customer into choosing a particular product \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eRBI issued these draft guidelines under the following acts:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSections 21, 35A, and 56 of the Banking Regulation Act, 1949\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSections 45JA, 45L, and 45M of the Reserve Bank of India Act, 1934 \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSections 30A and 32 of the National Housing Bank Act, 1987 \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSection 6 of the Factoring Regulation Act, 2011\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eWhen effectively implemented, these regulations will have a long-term impact on customer protection and responsible lending. However, if one has any feedback, RBI has invited their comments on the draft circular for the regulatory framework for aggregation on loans in digital lending by May 31, 2024.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo share views, all one has to do is send an\u0026nbsp;e-mail with the subject: “Comments on Draft Circular on Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders.”\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn April 2024, the Reserve Bank of India (RBI) released draft guidelines as a regulatory framework for the aggregation of loan products by lending service providers (LSPs). LSPs are third-party entities that perform some of the bank’s functions, such as customer acquisition, loan recovery, and more. These also include certain Regulated Entities (REs). This RBI \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rbis-draft-guidelines-for-transparency-in-loan-products-from-multiple-lenders/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;RBI Guidelines For Transparency In Loan Products From Multiple Lenders\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":42492,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-42490\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":42492,\"alt_text\":\"RBI Transparency\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/05/RBI-Transparency.jpg\",\"filesize\":283035,\"sizes\":{\"medium\":{\"file\":\"RBI-Transparency-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":8004,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-300x150.jpg\"},\"large\":{\"file\":\"RBI-Transparency-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":42605,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-1024x512.jpg\"},\"thumbnail\":{\"file\":\"RBI-Transparency-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4703,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-150x150.jpg\"},\"medium_large\":{\"file\":\"RBI-Transparency-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":28790,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-768x384.jpg\"},\"1536x1536\":{\"file\":\"RBI-Transparency-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":73941,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"RBI-Transparency-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":76228,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"RBI-Transparency-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":38883,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"RBI-Transparency-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":2453,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"RBI-Transparency-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":2971,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/RBI-Transparency.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eRBI\u0026#039;s Draft Guidelines For Transparency In Loan Products From Multiple Lenders\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"Read about the draft guidelines issued by the RBI as the framework for the aggregation of loan products by lending service providers. Get latest news on Fibe.\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/rbis-draft-guidelines-for-transparency-in-loan-products-from-multiple-lenders/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"RBI\u0026#039;s Draft Guidelines For Transparency In Loan Products From Multiple Lenders\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Read about the draft guidelines issued by the RBI as the framework for the aggregation of loan products by lending service providers. 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These guidelines gave lenders adequate freedom in loan pricing while protecting the borrower’s interest.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eA few of these guidelines directed financial institutions to adhere to the following with regard to interest and charges:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eNotify customers about any changes in their terms and conditions, including service charges and interest rates, in a timely fashion \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eEnsure that any changes in charges and interest rates are effected only prospectively \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eDuring an onsite examination for the period ending March 21, 2023, the RBI found instances of unfair practices followed by lenders concerning the charging of interest. This prompted the RBI to issue a new notification outlining the practices observed and offer resolutions.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eUnfair Practices Observed by the RBI\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eHere is an overview of the unfair practices observed and explained by the RBI in the notification issued on April 29, 2024:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003ePractice followed:\u003c/strong\u003e Lenders were levying interest from the date of sanction or the date of execution of the loan agreement. \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eIdeal Practice:\u003c/strong\u003e Interest must be charged from the date of actual disbursement of the funds to the customer.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003ePractice followed:\u003c/strong\u003e Lenders were charging interest for the whole month, even in the case of disbursal or repayment during the month. \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eIdeal Practice:\u003c/strong\u003e Lenders should charge interest only for the period the loan was outstanding.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003ePractice followed:\u003c/strong\u003e Lenders charged interest from the date of issue of the cheque in case of disbursal via cheques. \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eIdeal Practice:\u003c/strong\u003e The interest must be charged from the date when they handed over the cheque to the customer, which is generally several days after the date of issuance.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e\u003cstrong\u003ePractice followed:\u003c/strong\u003e Lenders collected one or more instalments in advance but charged interest on the full loan amount.\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eIdeal Practice:\u003c/strong\u003e Interest must be charged only on the amount outstanding, i.e., the balance after deducting the advance payments.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eResolution Offered by RBI\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eWith the above-mentioned unfair practices, lenders collected more interest from borrowers. The RBI deemed these and other non-standard practices to not align with the spirit of transparency and fairness.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo remedy this, the RBI, through its supervisory team, advised the following to the Regulated Entities (REs):\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eRefund the excess interest and other charges collected from customers\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eTry doing online transfers instead of giving cheques when disbursing loans\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eIn addition, the Reserve Bank of India also directed all REs to do the following in the interest of ensuring transparency and fairness:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eReview their practices for disbursal of loans\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eAssess their process of levying interest and other charges\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eTake corrective action when required, including system-level changes\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eAn important point to remember is that while the RBI has not set an upper limit on penal charges, it has advised REs to ensure that the charges are not to be treated as a revenue enhancement tool. These charges are meant to inculcate a sense of discipline and, therefore, must be reasonable.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn adherence to these fair practices, Fibe offers Instant \u003ca href=\\\"https://www.fibe.in/personal-loan/\\\"\u003ePersonal Loans\u003c/a\u003e of up to ₹5 Lakhs at competitive rates starting at 2% per month. The PCI DSS App-based journey also helps ensure that the funds are transferred instantly and no interest is levied unfairly. Download the Fibe \u003ca href=\\\"https://play.google.com/store/apps/details?id=com.earlysalary.android\u0026amp;pcampaignid=pcampaignidMKT-Other-global-all-co-prtnr-py-PartBadge-Mar2515-1\u0026amp;pli=1\\\"\u003ePersonal Loan App\u003c/a\u003e or register on the website for access to instant funds.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn 2003, the Reserve Bank of India (RBI) issued guidelines on Fair Practice Code For Lenders to ensure transparency and fairness. These guidelines gave lenders adequate freedom in loan pricing while protecting the borrower’s interest.\u0026nbsp; A few of these guidelines directed financial institutions to adhere to the following with regard to interest and charges: During \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rbi-asks-lenders-to-review-and-refund-unfair-interest-charges-know-why/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;RBI Asks Lenders to Review And Refund Unfair Interest Charges: Know Why\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":42493,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-42489\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":42493,\"alt_text\":\"Digital Lending Transparency\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/05/Digital-Lending-Transparency.jpg\",\"filesize\":280446,\"sizes\":{\"medium\":{\"file\":\"Digital-Lending-Transparency-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":8087,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-300x150.jpg\"},\"large\":{\"file\":\"Digital-Lending-Transparency-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":41723,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-1024x512.jpg\"},\"thumbnail\":{\"file\":\"Digital-Lending-Transparency-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4835,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-150x150.jpg\"},\"medium_large\":{\"file\":\"Digital-Lending-Transparency-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":27999,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-768x384.jpg\"},\"1536x1536\":{\"file\":\"Digital-Lending-Transparency-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":71169,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"Digital-Lending-Transparency-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":73564,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"Digital-Lending-Transparency-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":34623,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"Digital-Lending-Transparency-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":2651,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"Digital-Lending-Transparency-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":3175,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/05/Digital-Lending-Transparency.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eRBI Asks Lenders to Review And Refund Unfair Interest Charges: Know Why\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"The RBI issued a notice on April 29, 2024, after noticing unfair practices followed by the lenders regarding interest. 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Accordingly, the marginal standing facility (MSF) rate and the Bank Rate is 6.75%, and the standing deposit facility (SDF) rate remains at 6.25%. A majority of MPC members (5:1) also voted for the withdrawal of the accommodation policy stance.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eThe Outlook on Global Growth\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAs per the MPC, the global economy is exhibiting signs of resilience and growth in 2024. The Committee believes that global trade will experience faster growth in the current year as:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eGlobal composite PMI rose to 52.3 in March 2024, a nine-month high\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eGlobal manufacturing PMI rose to 50.6 in March 2024, the highest since mid-2022\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eYear-on-year growth of the world merchandise trade volume and world industrial production is positive in 2024 after many months of contraction\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eMoreover, advanced economies (AEs)and emerging market economies (EMEs) continue to have growing debt-to-GDP ratios, which is concerning. In case this situation worsens in AEs, EMEs will have to bear the brunt of spillover debt. This can present as volatility in financial markets.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eRobust Growth Indicators in the Domestic Economy\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSupported by the global environment and fixed investment, MPC expects domestic economic activities to grow at an accelerated pace. As per the second advance estimate (SAE), India’s real GDP growth for the financial year 2023-24 is pegged at 7.6%.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMoreover, RBI projects India to post a real GDP growth of 7% for the FY 2024-25. The RBI Governor enlisted the following indicators to support this claim regarding the growth of the Indian economy:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThe Purchasing Managers’ Index (PMI) has witnessed sustainable growth and touched a 16-year high in March 2024\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eServices PMI has also exhibited continuous expansion and remained above 60 in February-March 2024\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eAs per various indicators, urban consumption has remained buoyant in the previous quarters\u0026nbsp;\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eGoing forward, rural consumption may catch up with the urban demand due to good rabi crops and improved prospects of Kharif crops on account of normal monsoons\u0026nbsp;\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eIn addition to these, there are a few new measures announced that can also contribute to growth.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eA new scheme in the International Financial Services Centre (IFSC) to promote and facilitate NRI participation in Sovereign Green Bonds\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIntroduction of a feature to allow the use of UPI for cash deposits at cash deposit machines (CDMs)\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eEnabling the distribution of Central Bank Digital Currency (CBDC) via a dedicated wallet offered by permitting non-bank payment system operators\u0026nbsp;\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eThe Elephant in the Room: Inflation\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eExplaining the committee’s unchanged monetary policy stance, RBI Governor Shaktikanta Das remarked that two years ago, ‘the elephant in the room was inflation’ when the CPI inflation peaked at 7.8%. He added that this elephant, ‘Appears to be returning to the forest after having gone out for a walk. We would like the elephant to return to the forest and remain there on a durable basis.’\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eFood:\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWhile food inflation remains a challenge, the record rabi wheat production may ease the price pressure. Moreover, the expectation of a normal southwest monsoon indicates higher production of kharif crops, which may further ease food inflation.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHowever, given the forecast of above-normal temperatures in the coming months, RBI expects price volatility in certain pulses and key vegetables.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eFuel:\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWhile the RBI expects the deflation in fuel prices to deepen, the MPC outlines the need for close monitoring of the recent uptick in the rate of crude oil. However, as of March 2024:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eLPG prices for households were lowered by ₹100 per cylinder\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003ePetrol and diesel were reduced by ₹2 per litre\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eOverall, the central bank believes that risks are balanced and projects CPI inflation to be at 4.5% if the monsoons are normal. Note that the inflation rate has reduced significantly and remains within the tolerance level; it remains above the RBI’s target of 4%.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eTracking India’s Forex Reserves and Foreign Trade\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eRBI Governor Shaktikanta Das also reiterated certain indicators that reflect the resilient nature of the Indian economy. As of March 29, the forex reserves hit an all-time high of $645.6 billion.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWhat’s more, the Indian Rupee exhibited the lowest volatility in FY 2023-24 as compared to the last three years. In fact, the domestic currency was among one of the most stable major currencies in the last financial year. The Governor also pointed out that India’s current account deficit (CAD) has narrowed significantly and the country remains the largest recipient of remittances in the world.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAs expected, the unchanged repo rates will ensure that there are no changes in interest rates on different types of loans. It means that you continue to get an \u003ca href=\\\"https://www.fibe.in/personal-loan/\\\"\u003eInstant Personal Loan\u003c/a\u003e of up to ₹5 lakhs at competitive rates on Fibe. To get funds quickly and without any hassle, download the Fibe \u003ca href=\\\"https://play.google.com/store/apps/details?id=com.earlysalary.android\u0026amp;pcampaignid=pcampaignidMKT-Other-global-all-co-prtnr-py-PartBadge-Mar2515-1\\\"\u003ePersonal Loan App\u003c/a\u003e or log in to our website.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn its 3-day Monetary Policy Committee (MPC) review meeting, the RBI Governor Shaktikanta Das-led panel decided to keep the benchmark repo rate unchanged at 6.50% for the 7th consecutive time.\u0026nbsp; Taking into view the financial developments and macroeconomic trends, the committee voted for unchanged repo rates with a majority of 5:1. Accordingly, the marginal standing \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/important-insights-and-decisions-from-the-mpc-april-2024-meeting/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Important Insights and Decisions from the MPC April 2024 Meeting\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":42017,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-42012\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":42017,\"alt_text\":\"Monetary Policy Committee Updates - April 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/04/Monetary-Policy-Committee-Updates-April-2024.jpg\",\"filesize\":295255,\"sizes\":{\"medium\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7670,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-300x150.jpg\"},\"large\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":39171,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-1024x512.jpg\"},\"thumbnail\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4490,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-150x150.jpg\"},\"medium_large\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":26740,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-768x384.jpg\"},\"1536x1536\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":69516,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":71988,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":35409,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":2463,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"Monetary-Policy-Committee-Updates-April-2024-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":2893,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":42012,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/Monetary-Policy-Committee-Updates-April-2024.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eImportant Insights and Decisions from the MPC April 2024 Meeting - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"The RBI has left repo rates unchanged at 6.50% in its latest MPC review meeting. Learn more about the latest Monetary Policy meet on Fibe\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/important-insights-and-decisions-from-the-mpc-april-2024-meeting/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Important Insights and Decisions from the MPC April 2024 Meeting - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"The RBI has left repo rates unchanged at 6.50% in its latest MPC review meeting. 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One solution for all life’s big and small upgrades. 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Shedding light on the sector in Q3 FY23-24, this report covers lending trends for 37 member companies.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAmong its many notable findings is that the member companies disbursed nearly ₹2.50 crore loans. This points to a year-on-year growth of 12% from the third quarter of the previous year.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eRead on for insights into the trends highlighted by FACE’s report for this quarter.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eTrends in Loan Disbursement Volume, Value and Ticket Size\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eAs per the report, the loan disbursement by FACE companies did witness growth in this quarter. However, there was a marginal decline of 0.1% in the disbursement volume from the second quarter.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis decline was directed by one-third of the companies that reported a negative quarter-on-quarter growth. On the other hand, member companies witnessed a 10% growth in Q2 compared to Q1 of this financial year.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAmong the 35 member companies:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e19 member companies reported disbursement volume of less than ₹1 lakh\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003e6 member companies reported disbursement volume between ₹1 lakh and ₹5 lakhs\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003e4 member companies reported disbursement volume between ₹5 Lakhs and ₹10 lakhs\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003e6 member companies reported disbursement volume of over ₹10 lakhs\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eIn total, these companies have disbursed around ₹33,922 crores. This translates into a mammoth 46% increase compared to Q3 of the previous financial year, and a 7% growth from the previous quarter.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHere are the specifics of loan disbursement for 35 FACE member companies in the third quarter of FY 21-22 and FY 22-23, as well as the last 3 quarters:\u003c/p\u003e\\n\\n\\n\\n\u003cfigure class=\\\"wp-block-table\\\"\u003e\u003ctable\u003e\u003cthead\u003e\u003ctr\u003e\u003cth\u003e\u003cstrong\u003eQuarter\u003c/strong\u003e\u003c/th\u003e\u003cth\u003e\u003cstrong\u003eLoan Disbursement Value\u003c/strong\u003e\u003c/th\u003e\u003cth\u003e\u003cstrong\u003eAverage Ticket Size\u003c/strong\u003e\u003c/th\u003e\u003c/tr\u003e\u003c/thead\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd\u003eQuarter 3 (FY 21-22)\u003c/td\u003e\u003ctd\u003e₹1.33 crores\u003c/td\u003e\u003ctd\u003e₹7,459\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003eQuarter 3 (FY 22-23)\u003c/td\u003e\u003ctd\u003e₹2.21 crores\u003c/td\u003e\u003ctd\u003e₹8,817\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003eQuarter 1 (FY 23-24)\u003c/td\u003e\u003ctd\u003e₹2.33 crores\u003c/td\u003e\u003ctd\u003e₹10,345\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003eQuarter 2 (FY 23-24)\u003c/td\u003e\u003ctd\u003e₹2.48 crores\u003c/td\u003e\u003ctd\u003e₹10,760\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd\u003eQuarter 3 (FY 23-24)\u003c/td\u003e\u003ctd\u003e₹2.48 crores\u003c/td\u003e\u003ctd\u003e₹11,945\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003c/figure\u003e\\n\\n\\n\\n\u003cp\u003eOf the 35 FACE member companies, two-thirds had an average loan ticket size of over ₹10,000 for the quarter. Only 7 companies had an average loan ticket size of less than ₹10,000.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eGrowth in AUM and Profitability\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eOf the 37 companies in the FACETS report, 30 accounted for over 92% of the disbursement value. As of December 2023, these companies also reported an asset under management (AUM) of ₹41,220 crores.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e28 FACE member companies also reported their profitability and this data points to growth over the last year.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e79% of these companies were profitable as per Q3 FY23-24\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003e68% of these companies were profitable as per FY22-23\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWomen’s Participation in Loans Disbursed\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eIndia’s lending space is transforming to accommodate more women borrowers as reflected in this report. From April 2023 to December 2023, women accounted for 12% of the total borrowers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHere’s the detailed breakup.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e4 companies reported women participation of over 25%\u003cul\u003e\u003cli\u003e4 companies reported less than 10% of women’s participation\u003c/li\u003e\u003c/ul\u003e\u003cul\u003e\u003cli\u003e7 companies reported women participation between 15% and 25%\u003c/li\u003e\u003c/ul\u003e\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003e11 companies reported women participation between 15% and 10%\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThe report also presented data related to the number of the women who were a part of the workforce in these companies, which account for nearly a third of the total employees. However, the data on the presence of women in leadership roles was rather discouraging. Half of the companies that reported the gender composition of their workforce had at least one woman on their Board.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAs per Sugandh Saxena, FACE’s CEO, member companies have fared well in the market conditions in the latest quarter. If companies maintain the pace set in Q3, they will likely reach the milestone of ₹10 crore loans disbursed in this financial year.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eThe Fintech Association for Consumer Empowerment (FACE), a body aimed at advancing fintech through fair practices, has published the ninth edition of its FACETS report. Shedding light on the sector in Q3 FY23-24, this report covers lending trends for 37 member companies. Among its many notable findings is that the member companies disbursed nearly ₹2.50 \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/latest-loan-disbursement-trends-to-keep-in-mind-face-unveils-q3-report-for-fy-2023-24/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Latest Loan Disbursement Trends To Keep In Mind: FACE unveils Q3 Report for FY 2023-24\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":41799,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-41797\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":41799,\"alt_text\":\"FACE loan disbursement\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2560,\"height\":1280,\"file\":\"2024/04/FACE-loan-disbursement-trends-report-1-scaled.jpg\",\"filesize\":129430,\"sizes\":{\"medium\":{\"file\":\"FACE-loan-disbursement-trends-report-1-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":9686,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-300x150.jpg\"},\"large\":{\"file\":\"FACE-loan-disbursement-trends-report-1-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":38643,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-1024x512.jpg\"},\"thumbnail\":{\"file\":\"FACE-loan-disbursement-trends-report-1-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7019,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-150x150.jpg\"},\"medium_large\":{\"file\":\"FACE-loan-disbursement-trends-report-1-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":27067,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-768x384.jpg\"},\"1536x1536\":{\"file\":\"FACE-loan-disbursement-trends-report-1-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":65296,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-1536x768.jpg\"},\"2048x2048\":{\"file\":\"FACE-loan-disbursement-trends-report-1-2048x1024.jpg\",\"width\":2048,\"height\":1024,\"mime-type\":\"image/jpeg\",\"filesize\":96534,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-2048x1024.jpg\"},\"post-thumbnail\":{\"file\":\"FACE-loan-disbursement-trends-report-1-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":66986,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"FACE-loan-disbursement-trends-report-1-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":32008,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"FACE-loan-disbursement-trends-report-1-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":5355,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"FACE-loan-disbursement-trends-report-1-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":5751,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]},\"original_image\":\"FACE-loan-disbursement-trends-report-1.jpg\"},\"post\":41797,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/04/FACE-loan-disbursement-trends-report-1-scaled.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eLatest Loan Disbursement Trends To Keep In Mind: FACE unveils Q3 Report for FY 2023-24\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"FACE published its ninth FACETS report covering loan disbursement trends for its 37 member companies in Q3 for the financial year 2023-24. 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The study indicates women are more responsible credit borrowers as they are 10% more likely to repay the EMI on time than male borrowers. This reflects their conscientious approach to debt and prudent decision-making habits, underscoring their commitment to sound financial management.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe study conducted by Fibe further indicates that the credit demand among New-to-credit (NTC) women customers has more than doubled over the last five years. The survey indicates this increase from 18% in 2019 to 40% in 2023. In contrast, there was a 22% decline among male NTC customers with the demand going down from 82% in 2019 to 60% in 2023.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe study further reveals interesting trends around the credit profile of women borrowers. Of all the women borrowers, NTC customers make up the largest share at 32%. Women who own a credit card and regularly avail loans represent 13% whereas women who do not own a credit card but opt for other loans represent 18%. 22% of women account for those who have a limited credit history. This trend demonstrates the growth of female credit borrowers in the country to fulfil their aspirations.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBesides, the study further highlights the responsible borrowing behaviour among women indicating that the age for availing a first loan has gone up over the last five years for NTC customers. The average age for taking a first loan has increased from 26 years in 2019 to 31 years in 2023.\u003cbr\u003e\u003cbr\u003e\u003cstrong\u003eFibe Cofounder and CEO, Akshay Mehrotra said,\u003c/strong\u003e \u003cem\u003e“At Fibe, we are witnessing a remarkable shift in the borrowing behaviour, particularly among women. We conducted this study to understand evolving consumer credit behaviour and ensure our products and services meet the diverse needs of our customers. The surge in credit demand coupled with their outstanding repayment track record showcases a newfound financial independence and determination to fulfil their aspirations. We are not just committed to empowering women with accessible and flexible credit solutions but also fostering responsible borrowing behaviour. Over the years, we have expanded our presence beyond metros to make our solutions accessible even in tier 2+ towns. We remain committed to making the lending ecosystem more inclusive, paving the way for a more sustainable one.” \u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eAbout Fibe\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eFibe (previously EarlySalary) is one of India’s leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfil their aspirations. It is an industry leader in the salary advance segment with the fastest processing time. It has launched a host of financial products like Cash Loans, long-term Personal Loans and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Its technology arm – Social Worth Technologies Pvt. Ltd. has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. Due to its highly scalable business model, Fibe recently has been upgraded to BBB+ by CARE Ratings and has been certified with ISO/IEC 2001 for its Information Security Management System (ISMS).\u0026nbsp; Today, Fibe has access to debt lines to leading PSUs \u0026amp; Private Banks, Large Notable NBFCs and NDCs. The company has already disbursed more than 6 million loans worth ₹20,000 Cr+.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eFeatured in the Economic Times Best Brand Award at the Best Brands Conclave 2022\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eWinner of the BFSI Leadership Award at the 5th NBFC100 Tech Summit\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eWinner of Young Indians Delhi Youth Conclave Award\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eDream Company to Work for in Fintech by HRM Asia Pacific Congress\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eWinner of G20 Digital Innovation Alliance – Best Startup in Fintech\u003c/li\u003e\\n\u003c/ul\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAhead of International Women’s Day, Fibe \u0026#8211; India’s leading Fintech, has revealed interesting findings about the credit behaviour among female borrowers. The study indicates women are more responsible credit borrowers as they are 10% more likely to repay the EMI on time than male borrowers. This reflects their conscientious approach to debt and prudent decision-making \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/indian-women-10-more-likely-than-men-to-make-timely-loan-repayments-fibe-study/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Indian women 10% more likely than men to make timely loan repayments: Fibe study\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":41589,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-41588\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":41589,\"alt_text\":\"International Women’s Day\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/03/women-day-2024.jpg\",\"filesize\":202650,\"sizes\":{\"medium\":{\"file\":\"women-day-2024-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":6347,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024-300x150.jpg\"},\"large\":{\"file\":\"women-day-2024-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":29339,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024-1024x512.jpg\"},\"thumbnail\":{\"file\":\"women-day-2024-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":3313,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024-150x150.jpg\"},\"medium_large\":{\"file\":\"women-day-2024-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":19993,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024-768x384.jpg\"},\"1536x1536\":{\"file\":\"women-day-2024-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":51120,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"women-day-2024-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":51982,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024-1568x784.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/women-day-2024.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eIndian women 10% more likely than men to make timely loan repayments: Fibe study\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/indian-women-10-more-likely-than-men-to-make-timely-loan-repayments-fibe-study/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Indian women 10% more likely than men to make timely loan repayments: Fibe study\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Ahead of International Women’s Day, Fibe \u0026#8211; India’s leading Fintech, has revealed interesting findings about the credit behaviour among female borrowers. The study indicates women are more responsible credit borrowers as they are 10% more likely to repay the EMI on time than male borrowers. This reflects their conscientious approach to debt and prudent decision-making \u0026hellip; Continue reading \u0026quot;Indian women 10% more likely than men to make timely loan repayments: Fibe study\u0026quot;\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/indian-women-10-more-likely-than-men-to-make-timely-loan-repayments-fibe-study/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2024/03/women-day-2024.jpg?time=1710750578\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"2000\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"1000\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"3 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Indian women 10% more likely than men to make timely loan repayments: Fibe study\",\"robots\":{\"index\":\"index\",\"follow\":\"follow\",\"max-snippet\":\"max-snippet:-1\",\"max-image-preview\":\"max-image-preview:large\",\"max-video-preview\":\"max-video-preview:-1\"},\"canonical\":\"https://altcont.fibe.in/news/indian-women-10-more-likely-than-men-to-make-timely-loan-repayments-fibe-study/\",\"og_locale\":\"en_US\",\"og_type\":\"article\",\"og_title\":\"Indian women 10% more likely than men to make timely loan repayments: Fibe study\",\"og_description\":\"Ahead of International Women’s Day, Fibe \u0026#8211; India’s leading Fintech, has revealed interesting findings about the credit behaviour among female borrowers. 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One solution for all life’s big and small upgrades. Visit Now.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://altcont.fibe.in/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}},\"yoast_meta\":{\"yoast_wpseo_title\":\"\",\"yoast_wpseo_metadesc\":\"\",\"yoast_wpseo_canonical\":\"\"},\"_links\":{\"self\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/41588\",\"targetHints\":{\"allow\":[\"GET\"]}}],\"collection\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news\"}],\"about\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/types/news\"}],\"author\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/users/24\"}],\"replies\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/comments?post=41588\"}],\"version-history\":[{\"count\":1,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/41588/revisions\"}],\"predecessor-version\":[{\"id\":41590,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/41588/revisions/41590\"}],\"wp:featuredmedia\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media/41589\"}],\"wp:attachment\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media?parent=41588\"}],\"wp:term\":[{\"taxonomy\":\"post_tag\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/tags?post=41588\"},{\"taxonomy\":\"news-category\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news-category?post=41588\"}],\"curies\":[{\"name\":\"wp\",\"href\":\"https://api.w.org/{rel}\",\"templated\":true}]}},{\"id\":41586,\"date\":\"2024-03-07T16:23:14\",\"date_gmt\":\"2024-03-07T10:53:14\",\"guid\":{\"rendered\":\"https://altcont.fibe.in/?post_type=news\u0026#038;p=41586\"},\"modified\":\"2024-07-23T13:40:44\",\"modified_gmt\":\"2024-07-23T08:10:44\",\"slug\":\"upi-transactions-decline-in-february-heres-what-you-need-to-know\",\"status\":\"publish\",\"type\":\"news\",\"link\":\"https://altcont.fibe.in/news/upi-transactions-decline-in-february-heres-what-you-need-to-know/\",\"title\":{\"rendered\":\"UPI Transactions Decline in February: Here is What You Need to Know\"},\"content\":{\"rendered\":\"\\n\u003cp\u003eHitting an all-time high in January, UPI transactions declined both in terms of value and volume in February. As per the data revealed by the National Payments Corporation of India (NPCI), UPI transactions for the second month of 2024 stood at 1,210 crores in volume at the value of ₹18.3 lakh crore. This was a marginal decline from the first month, which stood at ₹18.4 lakh crore.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo know more about the trends in UPI transactions and the factors that led to this minor dip, read on.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eFall in UPI Transactions in February \u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe volume of UPI transactions crossed the 1,200-crore mark for the first time in India in October 2023. The volume of transactions rose to 1,220 crores in the first month of this year. However, it fell marginally by 0.8% in February to 1,210 crores, which is still about a 60% rise on a year-on-year basis.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eFactors Responsible for the Decline\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThere could be many reasons for the decline in the value and volume of UPI transactions in India. Two of these possible reasons are:\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eLesser Days in the Month\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe value and volume of transactions are typically low in February because of fewer days. Hence, experts believe that the number of transactions per day is a better metric to check the growth of UPI transactions. For instance, February saw 417 million UPI transactions per day, which is significantly higher than 393 million transactions a day in January.\u0026nbsp;\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eServer Outages and Technical Issues\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eAnother reason for the dip in total transactions is the technical issues faced by the banks in UPI connectivity in February. Several users complained about such outages on social media platforms. However, as per NPCI, their systems are working fine, and these outages occurred on the institution’s end. The NPCI is working with banks to resolve such issues.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat the Future Holds for UPI Transactions?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eSince 2017-18, these transactions have witnessed a compounded annual growth rate (CAGR) of 168%. As per experts, this growth will be sustained in the future. As the nation inches closer to every Indian using a UPI solution, it has an opportunity for three-fold growth on both the user and merchant side.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCombining this data, estimates suggest that UPI still has a growth potential of up to 10X in India. A ten-fold growth can take the volume of UPI transactions to over the 100-billion mark. With 350 million people using UPI in India, this homegrown payment service has immense potential to scale.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSharing his outlook, Akshay Mehrotra, Co-Founder and CEO, Fibe said,\u003c/strong\u003e “\u003cem\u003eUPI stands out as a highly favoured digital payment method for individuals, evident in the consistent rise in both transaction volume and value with each passing month.\u003c/em\u003e”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eUPI now aims to build cross-border capacities as it has already developed a major digital infrastructure in the country. In fact, RBI has also enabled users to make transactions from pre-sanctioned credit lines through this payment system. What’s more, the NPCI is also gearing up to open more credit lines on UPI.\u0026nbsp;\u003cbr\u003eCurrently, RuPay credit card users can link their cards with the UPI interface. This will enable users to enjoy a more seamless and digital payment process. The \u003ca href=\\\"https://www.fibe.in/credit-card/fibe-axis-bank-credit-card/\\\"\u003eFibe Axis Bank Credit Card\u003c/a\u003e is one of these UPI-enabled cards, allowing you to make payments without any hassles and earn exciting rewards. Download our \u003ca href=\\\"https://play.google.com/store/apps/details?id=com.earlysalary.android\u0026amp;pcampaignid=pcampaignidMKT-Other-global-all-co-prtnr-py-PartBadge-Mar2515-1\u0026amp;pli=1\\\"\u003eFibe App\u003c/a\u003e or register on our website to apply for this credit card.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eHitting an all-time high in January, UPI transactions declined both in terms of value and volume in February. As per the data revealed by the National Payments Corporation of India (NPCI), UPI transactions for the second month of 2024 stood at 1,210 crores in volume at the value of ₹18.3 lakh crore. This was a \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/upi-transactions-decline-in-february-heres-what-you-need-to-know/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;UPI Transactions Decline in February: Here is What You Need to Know\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":41529,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-41586\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":41529,\"alt_text\":\"UPI Transactions\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/03/UPI-Transactions-Decline-Marginally.jpg\",\"filesize\":303362,\"sizes\":{\"medium\":{\"file\":\"UPI-Transactions-Decline-Marginally-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7316,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-300x150.jpg\"},\"large\":{\"file\":\"UPI-Transactions-Decline-Marginally-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":36859,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-1024x512.jpg\"},\"thumbnail\":{\"file\":\"UPI-Transactions-Decline-Marginally-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4414,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-150x150.jpg\"},\"medium_large\":{\"file\":\"UPI-Transactions-Decline-Marginally-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":24543,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-768x384.jpg\"},\"1536x1536\":{\"file\":\"UPI-Transactions-Decline-Marginally-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":63321,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"UPI-Transactions-Decline-Marginally-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":64777,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-1568x784.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eUPI Transactions Decline in February: Here\u0026#039;s What You Need to Know\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"UPI transactions witnessed a decline in February in terms of volume and value as compared to the first month of 2024. Learn the possible cause and more on Fibe.\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/upi-transactions-decline-in-february-heres-what-you-need-to-know/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"UPI Transactions Decline in February: Here\u0026#039;s What You Need to Know\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"UPI transactions witnessed a decline in February in terms of volume and value as compared to the first month of 2024. 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This comes as no surprise since retail inflation continues to be above its target of 4%.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis is the sixth consecutive time that the repo rate has remained unchanged. The RBI last changed the rate in February 2023, increasing from 6.25% to 6.50% to curb inflation. Das also stated that the focus will be the withdrawal of accommodation to ensure that inflation aligns with goals and supports GDP growth.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe committee also revealed the retail inflation projection for 2023-2024 to be at 5.4% with 5% in Q4. Inflation is further projected to be at 4.5% for FY25. The projections for the coming financial year are:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003e5.0% for Q1\u0026nbsp;\u003c/li\u003e\u003cli\u003e4.0% for Q2\u0026nbsp;\u003c/li\u003e\u003cli\u003e4.6% for Q3\u0026nbsp;\u003c/li\u003e\u003cli\u003e4.7% for Q4\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eConsidering the risks from geopolitical tensions, geoeconomic fragmentation and volatility in international financial markets, the committee stated the projection for real GDP growth to be at 7%, with quarter projections as follows:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003e7.2% for Q1\u0026nbsp;\u003c/li\u003e\u003cli\u003e6.8% for Q2\u0026nbsp;\u003c/li\u003e\u003cli\u003e7.0% for Q3\u0026nbsp;\u003c/li\u003e\u003cli\u003e6.9% for Q4\u0026nbsp;\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI Governor also stated that the Indian rupee remained stable despite a stronger USD and elevated US Treasury yields. This reflects the stability and strength of the country’s economy, he added.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDas also revealed that the framework for the electronic platforms, which was issued in 2018 due to development in technology and market products, will be revised. He also stated that residents will now be allowed to hedge gold prices in the OTC market in IFSC, which will give them more flexibility.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn line with its focus on customer-centricity, the committee announced that it may issue rules wherein banks will have to offer all-inclusive rates. The rates will reflect the interest and other associated costs, such as processing fees, documentation fees and more. This will help borrowers have a clear understanding of the actual rate they may have to pay.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI governor also stated that all regulated entities will now have to provide a Key Fact Statement (KFS) to borrowers in case of all retail and MSME loans. Currently, a KFS is only mandated for microfinance loans, digital lending by regulated entities, and loans from scheduled commercial banks to individual borrowers. The move to mandate all regulated entities to issue a KFS will help foster better disclosure and transparency.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDas also stated that a principle-based framework for the authentication of digital payment transactions would be issued separately. This is to facilitate the use of alternate authentication mechanisms for the security of digital payments. The committee also proposed to enable additional use cases for transactions via Digital Rupee wallets using programmability and offline functionality. The introduction of these functionalities will happen gradually through the pilot banks.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe committee also noted that the domestic economic activity is holding up well and is expected to be backed by the momentum in rising consumer confidence, investment demand and optimistic business sentiments. Das also said, “What we have attempted to do today is to clearly state that the stance of policy should not be read as excessive liquidity is prevailing.” He also added that the liquidity is actively managed through proactive monitoring and prompt action, when needed, on the institutional, sectoral and systemic signs of risk.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn terms of when the stance will change to neutral, Das said, \u0026#8220;I cannot give any forward guidance on what are the pre-conditions for the stance of policy to be changed to neutral. There are a lot of uncertainties. In such an environment, we can\u0026#8217;t give any forward guidance.\u0026#8221; The next MPC meeting is scheduled from 3rd to 5th April 2024.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eReferences:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ehttps://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57275\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eShaktikanta Das, the Governor of RBI, chaired the Monetary Policy Committee (MPC) meeting and revealed that the repo rate will remain unchanged at 6.50% on 8th February 2024. This comes as no surprise since retail inflation continues to be above its target of 4%.\u0026nbsp; This is the sixth consecutive time that the repo rate has \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/repo-rate-unchanged-for-6-th-time-february-2024-mpc-meeting-highlights/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Repo Rate Unchanged for 6 th Time: February 2024 MPC Meeting Highlights\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":41155,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-41152\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":41155,\"alt_text\":\"RBI MPC Policy\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/02/RBI-MPC-Policy.jpg\",\"filesize\":299494,\"sizes\":{\"medium\":{\"file\":\"RBI-MPC-Policy-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":6986,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy-300x150.jpg\"},\"large\":{\"file\":\"RBI-MPC-Policy-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":36596,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy-1024x512.jpg\"},\"thumbnail\":{\"file\":\"RBI-MPC-Policy-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4209,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy-150x150.jpg\"},\"medium_large\":{\"file\":\"RBI-MPC-Policy-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":24594,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy-768x384.jpg\"},\"1536x1536\":{\"file\":\"RBI-MPC-Policy-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":63887,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"RBI-MPC-Policy-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":66467,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy-1568x784.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/02/RBI-MPC-Policy.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eRepo Rate Unchanged for 6 th Time: February 2024 MPC Meeting Highlights\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"During the recent MPC meeting on Feb 8, 2024, RBI Governor Shaktikanta Dasannounced that the repo rate will remain unchanged at 6.50%. Read more on Fibe.\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/repo-rate-unchanged-for-6-th-time-february-2024-mpc-meeting-highlights/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Repo Rate Unchanged for 6 th Time: February 2024 MPC Meeting Highlights\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"During the recent MPC meeting on Feb 8, 2024, RBI Governor Shaktikanta Dasannounced that the repo rate will remain unchanged at 6.50%. 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One solution for all life’s big and small upgrades. 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This 1% hike from the transaction value of December 2023 attests to the significant increase in the adoption of digital payment across the country.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eUPI transaction volume also witnessed a 1.5% increase, reaching 12.20 billion in January 2024. The data also revealed that the UPI transactions value and volume have seen a 42% and 52% YoY growth, respectively.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eA report by PwC also states that UPI transaction volume is expected to surpass 100 crores a day mark by FY27 and account for 90% of the volume in the next 5 years, dominating the retail digital payment landscape.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat is Next for UPI Transactions?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eNPCI is also looking to reach the 10,000-crore mark for monthly transaction volume and revealed several initiatives that will facilitate this. These include:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eOffline payment options based on NFC\u003c/li\u003e\u003cli\u003eCredit line access\u003c/li\u003e\u003cli\u003eConversational payment solutions\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eWith this, NPCI aims to create a digital payment ecosystem that is sustainable and inclusive.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe corporation is also planning to integrate BHASHa INterface for India (Bhashini), which will enable users to make conversational payments. Bhashini is an AI-powered multi-language translation tool launched in 2022.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eUPI has expanded not just across India but also internationally in countries like Canada, France, Nepal, Bhutan and UAE. There are also talks of expansion to African and South American countries and New Zealand.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eGoogle Pay services are set to enter international markets and facilitate the global expansion of UPI via Google’s collaboration with NPCI International Payments Limited (NIPL).\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eWhat Drives the Growth of UPI Transactions?\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eExperts say that there are several factors from innovation to value-added features, which drive the growth of digital payment in India.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAkshay Mehrotra, Co-founder and CEO, Fibe said,\u003c/strong\u003e \u003cem\u003e“The month-on-month rise in UPI transactions is a testament to the convenience and financial flexibility it has brought about, in addition to the RBI’s proposal to hike UPI transaction limit for hospitals and schools, which has opened ‘a new chapter in customer convenience’.”\u0026nbsp;\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe shift in consumer behaviour is also a key contributor to the growth of UPI transactions. Today, more and more people are not just comfortable with but also prefer digital payments instead of cash. Some crucial benefits that UPI payments offer include:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eRound-the-clock availability\u0026nbsp;\u003c/li\u003e\u003cli\u003eInstant settlement and transfer of funds\u003c/li\u003e\u003cli\u003eSecure, quick and easy alternative\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eNPCI also enabled the linking of RuPay credit cards on UPI, expanding the scope and safety of payments. This not only widens the popularity of credit cards but also of UPI payments, giving rise to cards that club their benefits with a host of other features.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eOne of these UPI-enabled cards is the \u003ca href=\\\"https://www.fibe.in/credit-card/fibe-axis-bank-credit-card/\\\"\u003eFibe Axis Bank Credit Card\u003c/a\u003e, which is India’s first numberless card and also offers several exciting benefits, such as no annual or joining fees, exclusive rewards and discounts. You can apply for it by downloading the \u003ca href=\\\"https://play.google.com/store/apps/details?id=com.earlysalary.android\u0026amp;pcampaignid=pcampaignidMKT-Other-global-all-co-prtnr-py-PartBadge-Mar2515-1\u0026amp;pli=1\\\"\u003eFibe App\u003c/a\u003e or registering on the website.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eReference links:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ehttps://www.npci.org.in/PDF/npci/knowledge-center/partner-whitepapers/Conversational-Payments-on-UPI-Unlocking-a-new-frontier-for-next-generation-payments.pdf\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eThe National Payments Corporation of India recently revealed that the Unified Payment Interface (UPI) transaction value reached a record high at ₹18.41 trillion in January 2024. This 1% hike from the transaction value of December 2023 attests to the significant increase in the adoption of digital payment across the country. UPI transaction volume also witnessed \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/upi-transactions-reach-18-trillion-in-january-know-everything/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;UPI Transactions Reach ₹18.41 Trillion in Jan 2024: Know Everything!\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":41529,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-41046\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":41529,\"alt_text\":\"UPI Transactions\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/03/UPI-Transactions-Decline-Marginally.jpg\",\"filesize\":303362,\"sizes\":{\"medium\":{\"file\":\"UPI-Transactions-Decline-Marginally-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7316,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-300x150.jpg\"},\"large\":{\"file\":\"UPI-Transactions-Decline-Marginally-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":36859,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-1024x512.jpg\"},\"thumbnail\":{\"file\":\"UPI-Transactions-Decline-Marginally-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4414,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-150x150.jpg\"},\"medium_large\":{\"file\":\"UPI-Transactions-Decline-Marginally-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":24543,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-768x384.jpg\"},\"1536x1536\":{\"file\":\"UPI-Transactions-Decline-Marginally-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":63321,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"UPI-Transactions-Decline-Marginally-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":64777,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally-1568x784.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/03/UPI-Transactions-Decline-Marginally.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eUPI Transactions Reach ₹18.41 Trillion in Jan 2024: Know Everything!\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"India’s UPI transaction value reached ₹18.41 trillion in Jan 2024, setting a new record. The YoY growth is 42% in terms of value and you can read more on Fibe.\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/upi-transactions-reach-18-trillion-in-january-know-everything/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"UPI Transactions Reach ₹18.41 Trillion in Jan 2024: Know Everything!\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"India’s UPI transaction value reached ₹18.41 trillion in Jan 2024, setting a new record. 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The RBI governor also said the stance will remain on withdrawal of accommodation.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe rationale for the decision to keep the repo rate unchanged for the fifth consecutive term stems from the CPI headline inflation, which saw a decline to 4.9% in October from 7.4% in July, signifying the effective control of inflation thanks to current measures.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn addition to its unanimous stance on the repo rate, the committee also revealed its GDP growth projection, which is 7% for FY24 with 6.5% and 6% in the third and fourth quarters, and 6.7%, 6.5%, and 6.4% in the first three quarters of FY25. The Central Bank of India also maintained its inflation projection at 5.4% for FY24.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo eliminate issues in credit management and compromise in pricing stemming from connected lending, the RBI plans to issue a unified regulatory framework for all the regulated entities.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI will also issue a regulatory framework for WALP (Web-Aggregation of Loan Products). This comes after it accepted the need for it via a circular released in 2022. Through a comprehensive framework, the RBI aims to enhance customer focus and operational transparency in WALP and enable informed decision-making among consumers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe Central Bank also proposed an enhancement in the UPI transaction limit for transfers made to educational institutes and hospitals. The limit will be increased to ₹5 lac from ₹1 lac. This move aims to encourage digital payments via UPI for these services.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn terms of recurring online payments, the limit of e-mandates that can be processed without AFA (Additional Factor Authentication) was ₹15,000 as of June 2022. In today’s MCP meeting, RBI proposed that this limit be extended to ₹1 lac for mutual fund subscriptions, insurance premium payments, and credit card bill payments. This proposition aims to boost customer convenience as these amounts are generally over ₹15,000.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI also announced its plan to establish a cloud facility for financial institutions to enhance privacy and data security. The move is also expected to help facilitate business continuity and scalability. The facility will be initially operated and set up by Indian Financial Technology \u0026amp; Allied Services and later transferred to another entity owned by participants in the financial sector.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBy April 2024, the RBI proposed the establishment of a repository operationalised by the Reserve Bank Innovation Hub, which will contain crucial details about Indian FinTechs to facilitate a better understanding of the developments in the ecosystem and offer adequate policy support.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn the post-policy conference, the RBI Governor Shaktikanta Das also said that inflation is a top priority, and its management cannot be on autopilot. Das also emphasised on MPC taking proactive measures to achieve the inflation target. Lastly, the governor said that the Indian rupee’s stability reflects on improving macroeconomic fundamentals and the nation’s resilience in the face of formidable global tsunamis. Das also mentioned a growing international confidence in the country’s potential.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eReferences:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ehttps://www.rbi.org.in/scripts/FS_PressRelease.aspx?prid=56889\u0026#038;fn=2752\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eOn 8th December 2023, the RBI, in its Monetary Policy Committee (MPC) meeting revealed that it will maintain the status quo and keep the repo rate unchanged at 6.50%. The RBI governor also said the stance will remain on withdrawal of accommodation. The rationale for the decision to keep the repo rate unchanged for the \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rbi-keeps-repo-rate-unchanged-mpc-december-2023-meeting-highlights/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;RBI Keeps Repo Rate Unchanged: MPC December 2023 Meeting Highlights\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":39852,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[382],\"class_list\":[\"post-39850\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2023\",\"entry\"],\"better_featured_image\":{\"id\":39852,\"alt_text\":\"RBI MPC Policy\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2560,\"height\":1280,\"file\":\"2023/12/RBI-MPC-Policy-scaled.jpg\",\"filesize\":136996,\"sizes\":{\"medium\":{\"file\":\"RBI-MPC-Policy-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":6821,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-300x150.jpg\"},\"large\":{\"file\":\"RBI-MPC-Policy-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":36512,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-1024x512.jpg\"},\"thumbnail\":{\"file\":\"RBI-MPC-Policy-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4221,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-150x150.jpg\"},\"medium_large\":{\"file\":\"RBI-MPC-Policy-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":24193,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-768x384.jpg\"},\"1536x1536\":{\"file\":\"RBI-MPC-Policy-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":63772,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-1536x768.jpg\"},\"2048x2048\":{\"file\":\"RBI-MPC-Policy-2048x1024.jpg\",\"width\":2048,\"height\":1024,\"mime-type\":\"image/jpeg\",\"filesize\":98487,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-2048x1024.jpg\"},\"post-thumbnail\":{\"file\":\"RBI-MPC-Policy-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":66974,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-1568x784.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]},\"original_image\":\"RBI-MPC-Policy.jpg\"},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/12/RBI-MPC-Policy-scaled.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eRBI Keeps Repo Rate Unchanged: MPC December 2023 Meeting Highlights\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"The RBI in its MPC meeting on December 8, 2023, kept the repo rate the same at 6.50%. 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One solution for all life’s big and small upgrades. 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This award signifies Fibe as an excellent workplace, excelling across the 5 dimensions of a High-Trust, High-Performance Culture™.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe’s company culture is centred around empowerment, inclusion, and growth – both personal and professional. This certification proves that our efforts to make an excellent workplace for our employees have not only borne fruit but also align with the international gold standard. This recognition underscores the dedication to transparent communication, employee support, fairness, pride in their work, and a sense of camaraderie among colleagues. It assesses the workplace\u0026#8217;s quality of confidence, hospitality, and community that provides a close-knit team. The brand reflects its continuous dedication to ensuring employee satisfaction and maintaining high standards of excellence. It reaffirms its position as a premier employer of choice in the fintech sector.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eAbout Great Place To Work®\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eGreat Place To Work® has surveyed over 100 million employees worldwide since 1992. The deep insights gained during this process have defined what makes a great workplace. In their efforts, trust was found to be the key factor, and its existence in every perceivable form truly set the great places to work apart from the rest.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe model employed focuses on the 5 dimensions of a High-Trust, High-Performance Culture™. These are:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003col class=\\\"wp-block-list\\\"\u003e\u003cli\u003eCredibility\u003c/li\u003e\u003cli\u003eRespect\u003c/li\u003e\u003cli\u003eFairness\u003c/li\u003e\u003cli\u003ePride\u0026nbsp;\u003c/li\u003e\u003cli\u003eCamaraderie\u003c/li\u003e\u003c/ol\u003e\\n\\n\\n\\n\u003cp\u003eOnly companies that excel on all these fronts are worthy of the certification, which is a stamp of quality for companies across the globe. The Institute serves entities in over 60 countries and has conducted pioneering research on the characteristics of great workplaces for over three decades.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn India, the institute partners with more than 1,400 organisations annually across over 22 industries, in an effort to help them align with the High-Trust, High-Performance Culture™. Several hundred C-suite executives in India are part of this community – one that is committed to the vision of making India a great place to work for all.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eImportance of the Great Place To Work® Certification\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe Great Place To Work® Certification has several implications, the most important being the adherence to a global standard of a great workplace culture. Fibe, as a community, has always put its best foot forward to inculcate a culture that prioritises trust.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSharing their insights on leadership, \u003cstrong\u003eMonica A. Mishra, Head of Human Capital Management of Fibe \u003c/strong\u003esaid, \u003cem\u003e“We take immense pride in this achievement and view it as a milestone in our journey towards building a thriving and inclusive work culture. At Fibe, we believe that our greatest strength is our people. This certification is a validation of our ongoing efforts to ensure that every member of the team feels respected, heard, and appreciated.”\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAdding to it, Mr. Akshay Mehrotra, Co-Founder and CEO, Fibe, believes this certification stands as a testament to the morals that govern work at Fibe.\u003c/strong\u003e\u003cem\u003e“A certification from a global authority like Great Place To Work is akin to a nod of approval. We try to make the workplace as safe and empowering as possible, and for many, the Fibe office is a second home. Such a high honour fills me with immense pride and joy, as it means that we’re able to build that level of trust and comfort in a workplace that operates an industry as competitive as ours.”\u003c/em\u003e\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eGreat Place To Work® is the global authority on workplace culture, and recently, Fibe, a brand under the Social Worth Technologies Private Limited banner, got its first certification. This award signifies Fibe as an excellent workplace, excelling across the 5 dimensions of a High-Trust, High-Performance Culture™.\u0026nbsp; Fibe’s company culture is centred around empowerment, inclusion, and \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-is-now-great-place-to-work-certified/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe is now ‘Great Place To Work’ certified\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":39607,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[382],\"class_list\":[\"post-39606\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2023\",\"entry\"],\"better_featured_image\":{\"id\":39607,\"alt_text\":\"Great Place To Work\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":4032,\"height\":3024,\"file\":\"2023/11/Great-Place-To-Work.png\",\"filesize\":17769443,\"sizes\":{\"medium\":{\"file\":\"Great-Place-To-Work-300x225.png\",\"width\":300,\"height\":225,\"mime-type\":\"image/png\",\"filesize\":156526,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-300x225.png\"},\"large\":{\"file\":\"Great-Place-To-Work-1024x768.png\",\"width\":1024,\"height\":768,\"mime-type\":\"image/png\",\"filesize\":1557548,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-1024x768.png\"},\"thumbnail\":{\"file\":\"Great-Place-To-Work-150x150.png\",\"width\":150,\"height\":150,\"mime-type\":\"image/png\",\"filesize\":57287,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-150x150.png\"},\"medium_large\":{\"file\":\"Great-Place-To-Work-768x576.png\",\"width\":768,\"height\":576,\"mime-type\":\"image/png\",\"filesize\":905364,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-768x576.png\"},\"1536x1536\":{\"file\":\"Great-Place-To-Work-1536x1152.png\",\"width\":1536,\"height\":1152,\"mime-type\":\"image/png\",\"filesize\":3275403,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-1536x1152.png\"},\"2048x2048\":{\"file\":\"Great-Place-To-Work-2048x1536.png\",\"width\":2048,\"height\":1536,\"mime-type\":\"image/png\",\"filesize\":5506751,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-2048x1536.png\"},\"post-thumbnail\":{\"file\":\"Great-Place-To-Work-1568x1176.png\",\"width\":1568,\"height\":1176,\"mime-type\":\"image/png\",\"filesize\":3440674,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work-1568x1176.png\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Great-Place-To-Work.png\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe is now ‘Great Place To Work’ certified - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-is-now-great-place-to-work-certified/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe is now ‘Great Place To Work’ certified - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Great Place To Work® is the global authority on workplace culture, and recently, Fibe, a brand under the Social Worth Technologies Private Limited banner, got its first certification. 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One solution for all life’s big and small upgrades. Visit Now.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://altcont.fibe.in/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}},\"yoast_meta\":{\"yoast_wpseo_title\":\"\",\"yoast_wpseo_metadesc\":\"\",\"yoast_wpseo_canonical\":\"\"},\"_links\":{\"self\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/39606\",\"targetHints\":{\"allow\":[\"GET\"]}}],\"collection\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news\"}],\"about\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/types/news\"}],\"author\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/users/24\"}],\"replies\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/comments?post=39606\"}],\"version-history\":[{\"count\":2,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/39606/revisions\"}],\"predecessor-version\":[{\"id\":39609,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/39606/revisions/39609\"}],\"wp:featuredmedia\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media/39607\"}],\"wp:attachment\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media?parent=39606\"}],\"wp:term\":[{\"taxonomy\":\"post_tag\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/tags?post=39606\"},{\"taxonomy\":\"news-category\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news-category?post=39606\"}],\"curies\":[{\"name\":\"wp\",\"href\":\"https://api.w.org/{rel}\",\"templated\":true}]}},{\"id\":39403,\"date\":\"2023-11-13T12:31:53\",\"date_gmt\":\"2023-11-13T07:01:53\",\"guid\":{\"rendered\":\"https://altcont.fibe.in/?post_type=news\u0026#038;p=39403\"},\"modified\":\"2023-11-13T15:51:33\",\"modified_gmt\":\"2023-11-13T10:21:33\",\"slug\":\"fibe-issues-non-convertible-debentures-ncd-and-raises-30-crores\",\"status\":\"publish\",\"type\":\"news\",\"link\":\"https://altcont.fibe.in/news/fibe-issues-non-convertible-debentures-ncd-and-raises-30-crores/\",\"title\":{\"rendered\":\"Fibe issues Non-Convertible Debentures (NCD) and raises ₹30 Crores\"},\"content\":{\"rendered\":\"\\n\u003cp\u003eAt Fibe, the goal is to make financial products more accessible to Indian consumers, keeping security and ease front and centre. As a market leader in simplifying lending solutions for professionals, our inclusive approach to innovation in the fintech sphere requires consistent efforts. We took the next step towards growth by raising more funds to realise our vision while maintaining our asset quality.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo diversify funding sources, Fibe recently issued Non-Convertible Debentures (NCDs) and raised ₹30 Crores. Our NCDs have a BBB+/Stable rating from CARE Ratings Limited, which validates Fibe’s robust balance sheet.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eWhy do companies issue NCDs?\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eNon-convertible debentures (NCDs) are types of debt securities that offer fixed returns and are not convertible into shares at maturity. While NCD holders do not share ownership or get a stake in the company issuing them, they enjoy higher returns with less risk exposure compared to equity investments.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCompanies issue NCDs to raise funds for the long term from the capital market to address a range of needs, be it debt refinancing, working capital, expansion and more. Apart from raising long-term funding, companies issue NCDs to diversify their borrowing profile and gain the public’s trust as NCDs can be categorised as public debt.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCompared to convertible debentures, NCDs offer investors higher gains, more liquidity and tax benefits.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eFibe’s NCD Issue Gets Fully Subscribed on Day 1\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis NCD issuance marks the first listing of EarlySalary Services Pvt. Ltd. (A Fibe Group Company) on the Bombay Stock Exchange (BSE). The issue was listed on the BSE from September 22, 2023 and their features include the following:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eThe face value of these NCDs is ₹1 lakh\u003c/li\u003e\u003cli\u003eThe maturity date of these debentures is March 18, 2025\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eAlong with the company’s debut on BSE, Fibe’s NCD issue also has another highlight — it was fully subscribed on Day 1. What makes this news great is that it shows the trust and confidence investors have in Fibe and our vision.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn addition, Fibe also has the green shoe option to raise another ₹19 crores, which is also fully subscribed. This show of confidence further motivates us to fulfil our commitment to offer inclusive, secure and accessible financial solutions to all.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eSharing his thoughts, the Co-Founder and Chief Financial Officer of Fibe, Mr. Ashish Goyal said\u003c/strong\u003e, \u003cem\u003e“It gives me immense happiness to share that EarlySalary Services Pvt. Ltd.’s first-ever NCD issue got fully subscribed on the first day and will now be available on BSE. This is a testament to the faith and confidence investors have in the Company and the transformative innovation it has undertaken in the digital lending space in India. We are committed to offering secure and inclusive financial solutions to the ambitious youth of India.”\u003c/em\u003e Since its launch, Fibe has grown multifold, making several strides towards becoming an industry leader. Some of our notable achievements include our ISO/IEC 2001 certification, the G20 Digital Innovation Alliance – Best Startup in Fintech award and the launch of India’s first numberless credit card in partnership with Axis Bank. We are excited to leap ahead and reach our next milestone to transform the financial landscape and serve our customers better.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAt Fibe, the goal is to make financial products more accessible to Indian consumers, keeping security and ease front and centre. As a market leader in simplifying lending solutions for professionals, our inclusive approach to innovation in the fintech sphere requires consistent efforts. We took the next step towards growth by raising more funds to \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-issues-non-convertible-debentures-ncd-and-raises-30-crores/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe issues Non-Convertible Debentures (NCD) and raises ₹30 Crores\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":39404,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[382,405],\"class_list\":[\"post-39403\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2023\",\"news-category-recent-press-release\",\"entry\"],\"better_featured_image\":{\"id\":39404,\"alt_text\":\"Fibe raises ₹30 Crores through Non-Convertible Debentures (NCD) issuance\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":512,\"height\":256,\"file\":\"2023/11/Fibe-raises-₹30-Crores-through-Non-Convertible-Debentures-NCD-issuance.jpg\",\"filesize\":14817,\"sizes\":{\"medium\":{\"file\":\"Fibe-raises-₹30-Crores-through-Non-Convertible-Debentures-NCD-issuance-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":6074,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Fibe-raises-₹30-Crores-through-Non-Convertible-Debentures-NCD-issuance-300x150.jpg\"},\"thumbnail\":{\"file\":\"Fibe-raises-₹30-Crores-through-Non-Convertible-Debentures-NCD-issuance-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":3376,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Fibe-raises-₹30-Crores-through-Non-Convertible-Debentures-NCD-issuance-150x150.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/11/Fibe-raises-₹30-Crores-through-Non-Convertible-Debentures-NCD-issuance.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe issues Non-Convertible Debentures (NCD) and raises ₹30 Crores - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-issues-non-convertible-debentures-ncd-and-raises-30-crores/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe issues Non-Convertible Debentures (NCD) and raises ₹30 Crores - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"At Fibe, the goal is to make financial products more accessible to Indian consumers, keeping security and ease front and centre. As a market leader in simplifying lending solutions for professionals, our inclusive approach to innovation in the fintech sphere requires consistent efforts. 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One solution for all life’s big and small upgrades. Visit Now.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://altcont.fibe.in/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}},\"yoast_meta\":{\"yoast_wpseo_title\":\"\",\"yoast_wpseo_metadesc\":\"\",\"yoast_wpseo_canonical\":\"\"},\"_links\":{\"self\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/39403\",\"targetHints\":{\"allow\":[\"GET\"]}}],\"collection\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news\"}],\"about\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/types/news\"}],\"author\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/users/32\"}],\"replies\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/comments?post=39403\"}],\"version-history\":[{\"count\":3,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/39403/revisions\"}],\"predecessor-version\":[{\"id\":39411,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/39403/revisions/39411\"}],\"wp:featuredmedia\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media/39404\"}],\"wp:attachment\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media?parent=39403\"}],\"wp:term\":[{\"taxonomy\":\"post_tag\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/tags?post=39403\"},{\"taxonomy\":\"news-category\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news-category?post=39403\"}],\"curies\":[{\"name\":\"wp\",\"href\":\"https://api.w.org/{rel}\",\"templated\":true}]}},{\"id\":38807,\"date\":\"2023-10-11T11:49:05\",\"date_gmt\":\"2023-10-11T06:19:05\",\"guid\":{\"rendered\":\"https://altcont.fibe.in/?post_type=news\u0026#038;p=38807\"},\"modified\":\"2023-10-12T13:05:40\",\"modified_gmt\":\"2023-10-12T07:35:40\",\"slug\":\"fibe-launches-indias-first-numberless-credit-card-in-partnership-with-axis-bank\",\"status\":\"publish\",\"type\":\"news\",\"link\":\"https://altcont.fibe.in/news/fibe-launches-indias-first-numberless-credit-card-in-partnership-with-axis-bank/\",\"title\":{\"rendered\":\"Fibe launches Numberless Credit Card in partnership with Axis Bank\"},\"content\":{\"rendered\":\"\\n\u003cp\u003eAs a leader in lending solutions for professionals, Fibe now ventures into the expansive credit card market. Making headlines and history, this time Social Worth Technologies Pvt. Ltd. takes centre stage with a partner, Axis Bank. Together, the duo has launched India’s first numberless credit card, a more secure instrument for the modern citizen.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis co-branded card operates on the homegrown global card payment network, RuPay and offers the full suite of advantages that come with it. Most notably, you can link this card to your preferred UPI platforms and transact using your card with ease.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eAbout the Fibe Axis Bank Credit Card\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAs a first in the nation, the numberless facility of the Fibe Axis Bank Credit Card is the standout feature. Customers enjoy an added layer of security as this provision eliminates the usual vulnerabilities\u0026nbsp;–\u0026nbsp;the card number, expiry date and the CVV printed on the card.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith this information, it is much easier to have your information stolen or misused. Adding to that, all the important card information is stored on the Fibe app and this platform grants full control to the card too. Here, you can set usage limits, check transaction history and more.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMost importantly, the Fibe App is PCI-DSS compliant, which adheres to industry best practices when handling your credit card data. Your information is secured, and you can transact freely without worry.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBesides card security and the safety of your information, the Fibe Axis Bank Credit Card is loaded with a suite of industry-best features too!\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eUPI-linking facility for seamless, on-the-go payments\u0026nbsp;\u003c/li\u003e\u003cli\u003e3% cashback on online food delivery across all restaurant aggregators, ride-hailing apps and online ticketing platforms\u003c/li\u003e\u003cli\u003e1% cashback on all online and offline transactions\u003c/li\u003e\u003cli\u003eTap-and-pay feature for added convenience\u003c/li\u003e\u003cli\u003eNil joining fee and nil annual fee for a lifetime\u003c/li\u003e\u003cli\u003eAccess to four domestic airport lounges per quarter\u003c/li\u003e\u003cli\u003eFuel surcharge waiver for fuel spends between ₹400 and ₹5,000\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eIn addition to these features, you also get unfettered access to all RuPay portfolio offerings, Axis Dining Delights, Wednesday Delights and End of Season Sales. Best of all, the Fibe Axis Bank Credit Card will be available to Fibe’s existing 2.1 million+ customers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eEstablishing a Benchmark for the Credit Card Industry\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDiversifying and stepping into the credit card arena, Fibe aims to boost financial inclusion even further with yet another easy-to-avail solution.\u003cbr\u003e\u003cstrong\u003eSharing his insights, Akshay Mehrotra, Co-Founder and CEO of Fibe says,\u003c/strong\u003e “We take great pleasure in introducing India\u0026#8217;s first numberless credit card, in association with Axis Bank. This exceptional card represents a significant stride in our commitment to offering secure and inclusive financial solutions to the ambitious youth of India. We aim to empower our users with a safe and secure payment ecosystem clubbed with the convenience of UPI payments thereby establishing a fresh benchmark in the credit card industry.\u0026#8221;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eOn this partnership, \u003c/strong\u003e\u003cstrong\u003eSanjeev Moghe, President \u0026amp; Head, Cards \u0026amp; Payments of\u003c/strong\u003e\u003cstrong\u003e Axis Bank, says,\u003c/strong\u003e “We are delighted to partner with Fibe in this ground-breaking market revolution, with an opportunity to serve an expanding customer base. This numberless Fibe Axis Bank card will prioritise the security of our customers while offering a robust financial solution that empowers the smart and ambitious youth of our nation. Our overarching banking strategy of being connected aims to foster inclusivity and enhance accessibility for the diverse and growing consumer segment.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe two powerhouses will offer customers an enhanced experience with this new offering. One that focuses on fintech’s best advancements while ensuring security never takes a backseat.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAs a leader in lending solutions for professionals, Fibe now ventures into the expansive credit card market. Making headlines and history, this time Social Worth Technologies Pvt. Ltd. takes centre stage with a partner, Axis Bank. Together, the duo has launched India’s first numberless credit card, a more secure instrument for the modern citizen.\u0026nbsp; This \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-launches-indias-first-numberless-credit-card-in-partnership-with-axis-bank/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe launches Numberless Credit Card in partnership with Axis Bank\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":38788,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[405],\"class_list\":[\"post-38807\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-recent-press-release\",\"entry\"],\"better_featured_image\":{\"id\":38788,\"alt_text\":\"fibe axis bank credit card\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2023/10/Untitled-1-1.png\",\"filesize\":251492,\"sizes\":{\"medium\":{\"file\":\"Untitled-1-1-300x150.png\",\"width\":300,\"height\":150,\"mime-type\":\"image/png\",\"filesize\":35551,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1-300x150.png\"},\"large\":{\"file\":\"Untitled-1-1-1024x512.png\",\"width\":1024,\"height\":512,\"mime-type\":\"image/png\",\"filesize\":341446,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1-1024x512.png\"},\"thumbnail\":{\"file\":\"Untitled-1-1-150x150.png\",\"width\":150,\"height\":150,\"mime-type\":\"image/png\",\"filesize\":25765,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1-150x150.png\"},\"medium_large\":{\"file\":\"Untitled-1-1-768x384.png\",\"width\":768,\"height\":384,\"mime-type\":\"image/png\",\"filesize\":238743,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1-768x384.png\"},\"1536x1536\":{\"file\":\"Untitled-1-1-1536x768.png\",\"width\":1536,\"height\":768,\"mime-type\":\"image/png\",\"filesize\":921965,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1-1536x768.png\"},\"post-thumbnail\":{\"file\":\"Untitled-1-1-1568x784.png\",\"width\":1568,\"height\":784,\"mime-type\":\"image/png\",\"filesize\":1011467,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1-1568x784.png\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/10/Untitled-1-1.png\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe launches Numberless Credit Card in partnership with Axis Bank - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"Fibe now ventures into the expansive credit card market with with a partner, Axis Bank. Together, the duo has launched India’s first numberless credit card\\\" /\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-launches-indias-first-numberless-credit-card-in-partnership-with-axis-bank/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe launches Numberless Credit Card in partnership with Axis Bank - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Fibe now ventures into the expansive credit card market with with a partner, Axis Bank. 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Our most recent triumph was at the G20-DIA Mega Summit 2023, where Fibe was awarded as the Best Startup in Fintech. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis win amplifies our commitment to revolutionising the financial landscape and the starting point into an era of unparalleled efficiency, security and accessibility to credit. It also serves as a testament to our unwavering dedication to innovation and the needs of our customers. \u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eAbout the G20-DIA Mega Summit\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe G20 Digital Innovation Alliance Mega Summit is a platform that recognises, supports and enables innovators of tomorrow. Organised by the Ministry of Electronics and Information Technology (MeitY), the high-profile international gathering focused on global economic and technological challenges and on innovators pushing the envelope. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eClassified as a Mega Summit, it is attended by delegates representing the G20 countries, 9 guest countries and 174 start-ups. This includes policymakers, business leaders, young innovators, investors and other players responsible for ushering in a digital tomorrow.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eUnder India’s presidency, the G20-DIA Mega Summit 2023 aims to foster:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eCooperation\u003c/li\u003e\u003cli\u003eInnovation\u0026nbsp;\u003c/li\u003e\u003cli\u003ePolicy discussions to further the digital age\u0026nbsp;\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eIt also serves as a stage to discuss the world’s digital challenges and opportunities alike. The Mega Summit is a melting pot of critical sectors for global economies, with a focus on:\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eFintech\u003c/li\u003e\u003cli\u003eEdtech\u003c/li\u003e\u003cli\u003eHealth-tech\u003c/li\u003e\u003cli\u003eAgri-tech\u003c/li\u003e\u003cli\u003eSecured Digital Infrastructure\u0026nbsp;\u003c/li\u003e\u003cli\u003eCircular Economy\u0026nbsp;\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eFor start-ups, the G20-DIA value proposition is immense. From improved access to markets in the G20, showcasing of innovation, mentoring and enhanced networking to the prospects of fundraising and partnerships, start-ups at the Summit have no choice but to put their best foot forward.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis is why a win at this level is an immense honour for us at Fibe and an indicator that our efforts are meaningfully contributing to a better digital financial future.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eOur Commitment to Innovation and Empowering Lives Through Technology\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eReceiving the prestigious award of ‘Best Startup in Fintech’ at the Mega Summit is a significant milestone in our journey as a leading lending platform. It only reinforces us to stay true to our objectives, as we continue to redefine technology and captivate global leaders with our visionary solutions.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis award strengthens our commitment and resolve to reshape economies with digital-first solutions for customers in the modern era. Fintech innovation at the bleeding edge means more than just leveraging emerging technology and is only possible with a highly motivated team of go-getters.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWe’re ecstatic for our win, thrilled for the future, and raring to go onwards and upwards to our next milestone.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eOn achieving this prestigious milestone, Mr. Akshay Mehrotra, Co-Founder and CEO, Fibe stated that\u003c/strong\u003e ‘\u003cem\u003eIn the ever-evolving landscape of financial technology, we embarked on a journey fueled by innovation, resilience, and unwavering dedication. Winning the G20-DIA Summit\u0026#8217;s recognition as the foremost fintech startup is a testament to our team\u0026#8217;s relentless pursuit of redefining the future of finance. It was the proudest moment for all of us at Fibe. With a vision to empower individuals and businesses through cutting-edge solutions, we are honoured to stand at the forefront of change, driving economic growth and transforming global financial ecosystems.’\u003c/em\u003e\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAt Fibe, we consider innovation our guiding light, and we are proud to announce that our efforts are earning their time in the spotlight. Our most recent triumph was at the G20-DIA Mega Summit 2023, where Fibe was awarded as the Best Startup in Fintech. This win amplifies our commitment to revolutionising the financial landscape \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-best-startup-in-fintech-at-the-g20-dia-mega-summit-2023/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe got the Best Startup in Fintech award at the G20-DIA Mega Summit 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With our ISO/IEC 27001 certification, you can rely on us adhering to an internationally recognised best practice framework when it comes to our processes, tools, systems and people.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThis IT standard is the world\u0026#8217;s most widely recognised information security management standard. With this certification, your sensitive data and information assets are protected by the right policies, control measures and risk assessments.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eAbout ISO/IEC 27001\u003c/strong\u003e\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eISO/IEC 27001 is a leading international, auditable standard for an information security management system. It not only applies to technical controls but the management of information security as a whole.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDeveloped by the International Organization for Standardization and the International Electrotechnical Commission, it has a range of controls related to aspects such as data masking, data leakage prevention, secure coding, threat intelligence and more. Together, all these standards offer the best practices in data protection.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIt ensures that companies take the right approach to maintaining information security across all their operations. It lays the groundwork for setting up, upholding, preserving and continually improving a company’s information security management systems (ISMS).\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThus, an ISO/IEC 27001 certification is a step in the right direction for any organisation that wants to improve and enforce the ideal business processes related to privacy and safety of information assets and thereby gain the trust of stakeholders.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eImportance of ISO/IEC 27001 Certification\u003c/strong\u003e\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe digital world is susceptible to cyber risks, breaches, and leaks. To mitigate these risks, assessing information security risks and adopting safeguards (controls) is key. That’s exactly where the ISO/IEC 27001 certification comes into play.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe’s certification signifies that your critical information assets are protected by risk treatment measures and security controls. What’s more, it demonstrates that Fibe has complied with an external and independent ISO certification body, allowing you to entrust your sensitive data to us with confidence.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eReflecting on the ISO/IEC 27001 certification, \u003cstrong\u003eMr. Anil Sinha, Chief Technology Officer of Fibe says,\u003c/strong\u003e \u003cem\u003e“It is a prestigious moment for Fibe and an important step towards better security and resilience, especially when Fibe is expanding and looking for newer markets. This also resonates with our commitment to customers that our platform is highly secure and maintaining confidentiality is our priority.”\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eWhy trust Fibe with your information assets?\u003c/strong\u003e\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe ISO/IEC 27001 certification shows that Fibe is committed to protecting information in all forms across the organisation. We offer you the highest standards of safety where your data are safe and secure. This applies to paper-based information, cloud-based information and digital data.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe 3 major pillars of information security pertinent to the ISO/IEC 27001 certification are:\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e• \u0026nbsp; Confidentiality \u0026#8211; Protects sensitive information from malicious behaviour\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e• \u0026nbsp; Integrity \u0026#8211; Your data remains consistent and accurate\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e• \u0026nbsp; Availability \u0026#8211; Ensures that authorised persons have access to data when needed\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBesides technology-based risks, the safeguards of ISO/IEC 27001 also ensure:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eThat we are compliant with significant industry standards\u003c/li\u003e\u003cli\u003eThat we reduce the risk associated with human-related company operations\u003c/li\u003e\u003cli\u003eThat we can build trust with customers and partners\u003c/li\u003e\u003cli\u003eThat Fibe remains resilient to the digital threats of the future\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eISO/IEC 27001 was recently revised in 2022 to keep up to date as a standard for Information Security Management Systems (ISMS). This ensures the best-in-class protection of customer data\u003cstrong\u003e.\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCommenting on the need for new-age security measures amidst fast-paced digital adoption, \u003cstrong\u003eMr. Akshay Mehrotra, Co-Founder and CEO, Fibe says,\u003c/strong\u003e\u003cem\u003e“We have witnessed rapid growth in the Indian digital lending industry and our business progress has resonated well with it. As a leading digital lending solutions provider, we have been careful to ensure high standard data and security measures are implemented, to protect customer interests.”\u003c/em\u003e\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAt Fibe, customers and their information are a priority, which is why data and assets benefit from uncompromising IT security standards. With our ISO/IEC 27001 certification, you can rely on us adhering to an internationally recognised best practice framework when it comes to our processes, tools, systems and people. This IT standard is the world\u0026#8217;s \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-is-now-iso-iec-27001-certified-to-offer-better-data-security/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe is now ISO/IEC 27001 certified to offer better data 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The focus was exclusively the young professional and their financial needs as they traversed through the ups and downs of life. Staying true to that ethos, the brand developed a suite of FinTech-enabled solutions ranging from short-term cash loans and salary advances to long-term personal loans, and more recently Buy Now Pay Later (BNPL) facilities across Edtech, Healthtech, Shopping and Lifestyle.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ePlugging a gap in the sector, and a wide one, the brand quickly became the largest consumer lending service provider. This spurred growth, and with it a rebranding with a refreshed look, identity and a name to tie it all together –\u0026nbsp;Fibe.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ePlugging a gap in the sector, and a wide one, the brand quickly became the largest consumer lending service provider. This spurred growth, and with it a rebranding with a refreshed look, identity and a name to tie it all together – Fibe.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eThe Change We Wanted To See And Be\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eSince names are powerful identifiers that carry deep meanings and connections, we chose to showcase our commitment to providing a superior customer experience to our now diverse consumer base with a new name. Fibe is a confluence of ‘Finance+vibe’ that captures our goal of offering financial solutions for every credit need of young aspirational Indians.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe perfectly suits our intent – to provide a positive, hassle-free financing experience that consumers deserve when interacting with a modern FinTech. Our goal is to be the go-to financial ecosystem that combines approachability, delight, friendliness, understanding and professionalism, all in one relatable package.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe perfectly suits our intent – to provide a positive, hassle-free financing experience that consumers deserve when interacting with a modern FinTech. Our goal is to be the go-to financial ecosystem that combines approachability, delight, friendliness, understanding and professionalism, all in one relatable package.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eA Visual And Strategic Reimagining\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eRefreshing our visual identity and voice is a move to better relate with the consumer of today and tomorrow. As the brand raised $110 million in series D funding, and forayed into the affordability segment with BNPL, it was time for an identity evolution. Noticing that the growing product line attracted consumers from far and wide, and across demographics, we thought it an opportune moment to adapt. As a result, Fibe took shape and is a proud testament to this accelerated growth vision.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCommenting on the rebranding, Mr. Akshay Mehrotra, Co-founder and CEO, Fibe said, \u003cem\u003e“EarlySalary as a brand name worked well for us when we started with our Salary Advance business. Over the years, we have launched a suite of financial products ranging from Instant Cash Loans as well as BNPL facilities across Edtech, Healthcare and Consumer tech. Furthermore, we’ve also evolved to serve a more diverse customer base. Hence, the change in brand positioning was pertinent.”\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHe further added that, \u003cem\u003e“Fibe will focus on multi-channel and multi-vertical customer acquisition. The new branding backed by technology is bound to create ease of access and thereby creating a frictionless experience for availing of financial services.”\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWe set our eyes on building connections with those who matter most – our consumers! Everything from a refreshed website to a more peppy and lively brand voice and a new logo that expresses our strategic pillars visually, this move was a complete overhaul. The key motivator here is simple – to communicate and act in a direct, effective and a relatable manner.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFar too often, communication and messaging surrounding finance is seen as overly complicated and jargon-heavy. Intimidating, confusing, effort-intensive, and unviable are how consumers view much of the finance world. We’re here to change that. Fibe aims to realign this perception by focusing on how approachable a modern FinTech can actually be at every stage in life.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eThe ‘Fibe’ Of It All\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eAs we continue to grow, the refreshed brand identity will keep us honest to our core beliefs. Consumers and investors will find the new brand identity reflective at every touchpoint, digital or physical.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSharing his insights on the move, Mr. Ashish Goyal, Co-founder and CFO said, \u003cem\u003e“The rebranding reflects our broader vision of growing our services and customer segment. EarlySalary as a brand name has built positively in the minds of our consumers and Fibe shall continue to resonate the same going forward. 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It also serves as financial wellness partners for more than 350+ companies and employees.\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eThere are lots of online lending platforms. What is your edge over others?\u003c/strong\u003e\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary differentiates itself by focusing on solving a singular problem faced by its core target group – young salaried working professional. It introduced the concept of instant digital salary advance for the first time in the country. The company also provides flexible loan amounts on various loan categories – shopping, travel, education and medical. EarlySalary also serves as financial wellness partners for more than 350+ companies and employees.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eToday, while we are leaders in the digital salary advance and instant loans space, they have also integrated into many company’s HR systems to help even first jobbers and blue-grey collar employees borrow instantly. Focusing on consumer credit needs has helped the company build additional products like EMI Credit for shopping and travel with leading online partners with low-cost EMI offerings. Also, with a special focus on education and skill upgradation EarlySalary has introduced education loans on the app.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eWhat is the interest percentage that you charge? What is the minimum and maximum ticket size of the loan that you offer?\u003c/strong\u003e\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary provides flexible loan amounts starting from Rs 8,000 to Rs 2 00,000. The interest percentage that is charged on the loan amount is Rs 9 per day.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eWhich age group comprises as your biggest subscriber?\u003c/strong\u003e\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary is widely accepted by its customers, especially by the underserved salaried professionals. Such young professionals and job beginners experience month-end cash crunch and due to lack of credit-score knowledge, they are unable to borrow money from the traditional credit facilities available. EarlySalary helps them with an easy line of credit, instant cash loans, salary advances, interest-free EMIs for shopping and long-term loans.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary has partnered with nearly 350+ corporates and serve more than 1 million employees of these employers in addition to 9 million customers who have downloaded EarlySalary. EarlySalary focuses on helping the customer with its different loan categories like shopping, travel, medical emergencies or education with partnership with Amazon, Flipkart, MakeMyTrip, Yatra, Big Bazaar and nearly 100+ education institutes.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eWhich are the geographies in India that you are present?\u003c/strong\u003e\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eHeadquartered in Pune, EarlySalary has a presence in 17 cities across the country. It includes Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Visakhapatnam, Vijayawada, Jaipur and others.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eSince when have you started operation and what is your capital raising plan?\u003c/strong\u003e\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary raised Series B funding of Rs 100 crore led by EightRoads (Fidelty) Ventures India in January 2018. Earlier investors IDG Ventures India, Dewan Housing Finance Corp (DHFL) are the ones who helped EarlySalary raise $4 Million as Series A in May, 2017. The company also has raised debt of Rs 300 crore from leading banks and NBFC.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003e\u003cstrong\u003eWhat is the total amount of money that the company has disbursed so far?\u003c/strong\u003e\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary, India’s largest consumer lending platform has disbursed loans amounting to Rs 1,650 crore and is close to completing one million loan disbursal.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eWith lots of other players in the\u0026nbsp;consumer lending application space,\u0026nbsp;Akshay Mehrotra, Co-founder and CEO of EarlySalary\u0026nbsp;in an interview to\u0026nbsp;Aparajita Gupta\u0026nbsp;said the company has an edge over others by\u0026nbsp;focusing on solving a singular problem faced by its core target group – young salaried working professional. It also serves as financial wellness partners for more than 350+ \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/solving-problems-of-young-professionals-gives-earlysalary-edge-over-others/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Solving Problems Of Young Professionals Gives EarlySalary Edge Over Others\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25642,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[177,178,152],\"class_list\":[\"post-25641\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-financial-wellness\",\"news-category-financial-wellness-partner\",\"news-category-news-2019\",\"entry\"],\"better_featured_image\":{\"id\":25642,\"alt_text\":\"\",\"caption\":\"Hand pushing blue pay keyboard button\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":660,\"height\":320,\"file\":\"2019/09/NEWS.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"NEWS-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/09/NEWS-150x150.jpg\"},\"medium\":{\"file\":\"NEWS-300x145.jpg\",\"width\":300,\"height\":145,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/09/NEWS-300x145.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"Hand pushing blue pay keyboard button\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"Hand pushing blue pay button\",\"orientation\":\"1\",\"keywords\":[\"abstract\",\"banking\",\"business\",\"buy credits\",\"commerce\",\"computer\",\"concept\",\"consumer\",\"consumerism\",\"easy\",\"electronic\",\"finance\",\"internet\",\"keyboard\",\"modern\",\"money\",\"pay\",\"payment\",\"shop\",\"trading\",\"transaction\",\"transfer\",\"blue\",\"white\",\"button\",\"click\",\"commerce\",\"customer\",\"digital\",\"enter\",\"laptop\",\"macro\",\"market\",\"merchandise\",\"network\",\"office\",\"online\",\"paying\",\"pc\",\"push\",\"sell\",\"service\",\"shop\",\"symbol\",\"technology\",\"text\",\"trading\",\"type\",\"web\",\"work\"]}},\"post\":25641,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/09/NEWS.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eSolving Problems Of Young Professionals Gives EarlySalary Edge Over Others - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/solving-problems-of-young-professionals-gives-earlysalary-edge-over-others/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Solving Problems Of Young Professionals Gives EarlySalary Edge Over Others - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"With lots of other players in the\u0026nbsp;consumer lending application space,\u0026nbsp;Akshay Mehrotra, Co-founder and CEO of EarlySalary\u0026nbsp;in an interview to\u0026nbsp;Aparajita Gupta\u0026nbsp;said the company has an edge over others by\u0026nbsp;focusing on solving a singular problem faced by its core target group – young salaried working professional. It also serves as financial wellness partners for more than 350+ \u0026hellip; Continue reading \u0026quot;Solving Problems Of Young Professionals Gives EarlySalary Edge Over Others\u0026quot;\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/solving-problems-of-young-professionals-gives-earlysalary-edge-over-others/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2019-09-27T07:08:57+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2019/09/NEWS.jpg?time=1710750578\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"660\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"320\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"3 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Solving Problems Of Young Professionals Gives EarlySalary Edge Over Others - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"robots\":{\"index\":\"index\",\"follow\":\"follow\",\"max-snippet\":\"max-snippet:-1\",\"max-image-preview\":\"max-image-preview:large\",\"max-video-preview\":\"max-video-preview:-1\"},\"canonical\":\"https://altcont.fibe.in/news/solving-problems-of-young-professionals-gives-earlysalary-edge-over-others/\",\"og_locale\":\"en_US\",\"og_type\":\"article\",\"og_title\":\"Solving Problems Of Young Professionals Gives EarlySalary Edge Over Others - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"og_description\":\"With lots of other players in the\u0026nbsp;consumer lending application space,\u0026nbsp;Akshay Mehrotra, Co-founder and CEO of EarlySalary\u0026nbsp;in an interview to\u0026nbsp;Aparajita Gupta\u0026nbsp;said the company has an edge over others by\u0026nbsp;focusing on solving a singular problem faced by its core target group – young salaried working professional. 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Here, he talks about how his\\nalma mater shaped his career and life.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eTell us about your educational background?\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eI am from a family with army background and so went to 16\\nschools, across the country. I loved Math and Computer Science during my school\\ndays. I was in the 2002-04 batch at Symbiosis Institute of Management Studies\\n(SIMS). I was an above average student.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eWhat drove you to choose this career path?\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDuring an internship, a mentor helped me choose the path of\\nmarketing. At 26, I became the marketing head of one of the largest insurance\\ncompanies in India.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eI worked for eight years with the company and then became\\nthe chief markerting officer of an Insurance Tech Start-Up (PolicyBazaar) and\\nthen the CMO of the largest retailer in the country (BigBazaar/Future Retail).\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAt 34, I decided to become an entrepreneur and set up\\nEarlySalary with my best friend. SIMS ensured that I become proficient in\\npublic speaking.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eI have been a guest host on many television shows and have\\nalso been a speaker at various events.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eI have my alma mater, Symbiosis to thank for this level of\\nconfidence. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eTell us about your career journey\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eI did three internships while I was in college; Bajaj Allianz\\nwhich got me a job instantly, in Titan and in Wipro. I was conferred with the\\nmost talented CMO of the year award in 2013 – 2014 in the retail space by CMO\\nAsia.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eWhat about the highs and lows of your career so far?\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThere is always a new high. I was a part of the team, that\\nbuilt the first FinTech Unicorn in India; PolicyBazaar. I was also a part of\\nthe team that built the largest retail brand in the country; Big Bazaar. My\\nco-founder Ashish and I are now building the first instant loan startup.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eWhat are your future plans?\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMy single focus for the next five years is to build\\nEarlySalary into a Unicorn company.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAkshay talks about how Symbiosis Institute of Management Studies (SIMS) shaped his career and life\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25264,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[153],\"class_list\":[\"post-25346\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-founder-stories\",\"entry\"],\"better_featured_image\":{\"id\":25264,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":876,\"height\":612,\"file\":\"2019/06/akshay@3x.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"akshay@3x-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/06/akshay@3x-150x150.jpg\"},\"medium\":{\"file\":\"akshay@3x-300x210.jpg\",\"width\":300,\"height\":210,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/06/akshay@3x-300x210.jpg\"},\"medium_large\":{\"file\":\"akshay@3x-768x537.jpg\",\"width\":768,\"height\":537,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/06/akshay@3x-768x537.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":25044,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/06/akshay@3x.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eAlumni connect:SIMS helped me become proficient in public speaking, says Mehrotra - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/alumni-connectsims-helped-me-become-proficient-in-public-speaking-says-mehrotra/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Alumni connect:SIMS helped me become proficient in public speaking, says Mehrotra - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Akshay talks about how Symbiosis Institute of Management Studies (SIMS) shaped his career and life\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/alumni-connectsims-helped-me-become-proficient-in-public-speaking-says-mehrotra/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2019-07-25T10:28:55+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2019/06/akshay@3x.jpg?time=1710750578\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"876\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"612\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"2 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Alumni connect:SIMS helped me become proficient in public speaking, says Mehrotra - 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A cool breeze is\\nblowing across the terrace of the six-storeyed headquarters of Bajaj Finance,\\nIndia’s most valuable lending company, just days after temperatures touched 42\\ndegrees Celsius and the Deccan Plateau on which the city sits seemed to be\\nradiating heat waves.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBut come rain or sunshine, Rajeev Jain, managing director of\\nBajaj Finance, is at his desk at 7.30 a.m. every day. As we get ready for a\\nmeeting, Jain has a long day ahead. He has a visa interview and several re-view\\nmeetings as he prepares the final report for the previous financial year that\\nwill be discussed at a board meeting. Jain should have nothing to worry about.\\nIn the 11 years he has steered the company, revenues have grown from ₹503 crore\\nto ₹13,466 crore in March 2018, a compound annual growth rate (CAGR) of 39%,\\nand profits have jumped from ₹21 crore to ₹2,647 crore. In these years, Bajaj\\nFinance’s market capitalisation has shot up from ₹900 crore to ₹1,10,000 crore,\\nmaking it the Bajaj group’s most valuable company. And in the last quarter of\\nFY19, its profits jumped 57% to ₹1,176 crore from the same period last year.\\nInvestors seem to love the story. In the aftermath of the carnage after a large\\nnon-banking finance company (NBFC), IL\u0026amp;FS, defaulted on its borrowings,\\nBajaj Finance was one of few stocks to recover lost ground. Its stock price\\nrose to ₹3,131 in early May after losing a third of its value when it fell to\\n₹1,974 in October 2018.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eYet Jain is driving his employees hard. He says he has made\\nit mandatory for the 3,000 employees at his company to work an extra Saturday.\\nBajaj Finance used to work alternate Saturdays but from April 1, it works three\\nSaturdays a month. “Most family shopping happens on weekends and we need to be\\nthereto evaluate risk and offer instant loans when the customer needs them the\\nmost,” says Jain.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBajaj Finance Ltd (BFL) is a subsidiary of Bajaj Finserv,\\nwhich holds 54.99% in the firm. Finserv also holds 74% each in two other\\nsubsidiaries, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance,\\nwhich together constitute the financial assets of the group.Though accounting\\nnorms allow Finserv to add BFL’s sales to its consolidated revenue, the two\\ncompanies are separate listed entities and are together valued at ₹2,50,000\\ncrore. HDFC, classified as a housing finance company (HFC) and with a market\\ncapitalisation of ₹3,32,000 crore, is the only non-banking finance company that\\nis more valuable than the two Bajaj firms. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTheir success is even starker when you pitch them against\\nother Indian industrial conglomerates like the Birla group’s Aditya Birla\\nCapital, the Mahindra Group’s M\u0026amp;M Financial Services, Reliance Capital,\\nLarsen\u0026amp; Toubro Finance Holdings, and Tata Capital, which have existed as long\\nas Bajaj but are valued at only a fraction of its market capitalisation. “Bajaj\\nFinance is an outlier among finance companies in India as its management\\nsuccessfully executed a strategy for giving retail loans that others could\\nnot,” says Abhiram Eleswarapu, head of India equity research at BNP Paribas.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIt wouldn’t matter even if Jain slowed down a bit as none of\\nhis competitors, including banks, have managed to build a large retail\\nfranchise to give loans to individuals. Still, he is constantly moving the goal\\npost for his team. In less than a decade from now, he wants 50% of his business\\nto come directly from digital channels, like mobile phones and websites, and\\nnot through intermediaries or agents. Today, only 8-18% of its business\\noriginates directly from customers using digital channels. Traditionally, Bajaj\\nFinance’s unique value proposition was having are presentative at\\nbrick-and-mortar stores that sold consumer durables or Bajaj vehicles. But\\nincreasing sales of consumer durables through e-commerce channels like Amazon\\nand Flipkart have begun disrupting Bajaj’s credit business. And bigger banks\\nlike Axis, ICICI, and State Bank of India (SBI) have also begun to snare online\\ncustomers by offering exclusive discounts for using a credit card to pay for\\npurchases and automatically allowing customers to pay by EMIs. For example, at\\nthe electronics and appliances retail chain Croma, an LG washing machine with a\\nsticker price of ₹24,000 worked out nearly 5% cheaper if paid through an HDFC\\nBank credit card rather than a Bajaj EMI scheme.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eJain’s plan has been in the works for nearly two years. Over\\n100 data scientists and analysts have been hired by Bajaj Finance to analyse\\ncustomer data generated from millions of customers that the company gives loans\\nto every year. They want to predict customer behaviour and suggest appropriate\\nproducts for new customers on the go. That’s not an easy task. Typically, a\\ncustomer uses financial services of several intermediaries like banks, credit\\ncards, and payments companies at any given point of time; no single player has\\na complete picture of the customer’s spending habits. For example,if a customer\\npays a cab-hailing company through a payment app for his daily commute to work,\\nhis bank will not know his travel schedule to suggest offers on the way, but\\nhis mobile phone, cab, and payment services companies can do that. “India is in\\na wonderful position to leapfrog decades on the technology side and,\\ntherefore,create business innovations because of the government’s Unified\\nPayments Interface (UPI), which enables easy and cheap transaction costs,” says\\nSanjiv Bajaj, managing director of Bajaj Finserv. Akshay Mehrotra, CEO and\\nco-founder of Pune-based fintech Early Salary, adds: “The cost of running a\\ndigital business will finally rest on the efficiency of the predictive engine.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBut the digital loans business is crowded and the Bajaj\\ncompanies will have to fight for space. In the last three years, a slew of\\nfintech companies has raised money to offer services from payments and personal\\nloans to microfinance. Biggies like Paytm, Jio Money, WhatsApp, and Google Pay\\nare expected to vie for the payment play, which has seen top dollar investment\\nfrom global private equity firms. Companies like EarlySalary offer loans to\\nsalaried employees who face a temporary crunch towards the end of the month or\\nfor exigencies.Unlike banks or traditional firms, EarlySalary is a digital-only\\nplayer. In three years, it has disbursed nearly ₹1,000 crore in small-ticket\\nloans and is growing rapidly. To qualify for early salary loans, a customer has\\nonly to send his identification and a bank statement, and loans are ready\\nwithin hours if an applicant qualifies.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith the ground shifting under its feet, consumer finance\\nleader Bajaj Finance was forced to push for a new digital strategy. Last year,\\nit had 702,000 purchases on e-commerce platforms, up from 167,000 in the\\nprevious year,a growth of 320%. In the next six months, Bajaj Finserv will\\nlaunch several new initiatives to increase its digital footprint and direct\\ninterface with consumers. The company will place its widgets, or small software\\nprogrammes, on 400-500 popular online destinations like education websites to\\noffer loans as students prepare to enroll for a course. Later this year, a\\nyet-to-be-disclosed platform, codenamed FinservDirect, will launch a hyper\\nlocal online store that will stock consumer durables and other lifestyle products\\nand allow customers to get deliveries from neighbourhood vendors in less than\\n12 hours. Customers will be able to directly access any product, be it loans or\\ninsurance, on the website. The idea is to leverage the Finserv brand name and\\nget customers to transact digitally on its e-commerce platform. Says Tapan\\nSinghel, managing director and CEO of Bajaj Allianz General Insurance: “There\\nis no doubt that insurance companies will need a digital strategy as that is\\ngoing to be the most used medium but we need to innovate if we want the\\ncustomer to choose us there.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eLast year, Bajaj Finance financed 9.9 mil-lion purchases,\\nmost of them in the consumer durables space. Therefore, the company has an\\nongoing relationship with several vendors across the country. The hyper local\\nwebsite that Finserv is talking about will carry over 100,000 different\\nproducts from its existing pool of vendors, there-by helping develop an\\nalternative e-commerce strategy for them. Finserv will be the priority lender\\nif the customer wants a loan to make purchases. “Directionally, we are talking\\nabout a portfolio of digital assets that will address the issue of e-commerce\\ncompanies taking away customers and at the same time increase the visibility\\nfor our products,” says Manev Mianwal, group marketing head, Bajaj Finserv.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo understand the new initiatives, we need to step back a\\nbit to see what makes Bajaj Finserv and Bajaj Finance tick. A little over a\\ndecade ago, the group’s finance business was started as a subsidiary of Bajaj\\nAuto, which sold motorcycles and three-wheelers. Then called Bajaj Auto\\nFinance, it primarily financed the purchase of Bajaj vehicles exclusively\\nthough it also did some consumer durables financing. In April 2007, a decision\\nwas taken to separate the finance businesses to enable capital infusion and\\naccountability without affecting the auto business.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBy September 2007, Sanjiv had already hired key personnel\\nincluding Jain as CEO of Bajaj Finance, which would be the lending arm of the\\ngroup. But soon after, the Lehman Brothers-triggered financial crisis struck\\nand Bajaj Finance’s gross non-performing assets stood at over 10% of its books.\\nThe company ended up with profits of ₹20 crore on revenues of ₹410 crore in\\nMarch 2008. Though sales increased from ₹353 crore in the previous year,\\nprofits dipped from ₹47 crore. BFL was then present in 400 cities and had 9,000\\npeople on its rolls.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHiring Jain, who had worked earlier in GE Money and American\\nExpress, proved to be a great move.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eJain had done stints in consumer durables lending, auto\\nloans, and personal lending, and he had worked in multinationals fora major\\npart of his early career. Subsequently, the top 100 early hires came from GE\\nand Amex. The early build-up of the business was over-seen by Nanoo Pamnani, a\\nCitibank veteran. Says Sanjiv Bajaj: “Since we knew that the business had very\\nthin margins, right from the start we architected the business for very high\\noperational efficiency.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo bring down non-performing assets (NPAs) and institute\\nprocesses, Jain shut down operations in 330 cities and also pruned staff\\nstrength to 3,000 before rebuilding the organisation. He says that to build a\\nconsumer and SME loan portfolio, there are five key blocks that need to be\\nexecuted correctly: customer acquisition, big product portfolio, risk\\nmanagement, collections infrastructure and finally, superior profitability.\\nWith Pamnani overseeing operations, Jain started rebuilding the business by\\nenrolling bigger and credit-worthy retailers. “We decided that we would give\\nmoney not to the one who desperately needs it but to those who currently didn’t\\nwant it,” says Jain.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSo, instead of making the customer pay interest on\\npurchases, Bajaj Finance tied up with manufacturers to foot the interest and\\noffered zero-cost loans to customers. Further, Jain ensured the time required\\nto sanction loans was brought down to 30 seconds from three to four days. The\\nformula hit the right target. Starting in 2010, Bajaj Finance again started\\ngrowing fast and by the time Jain took over as managing director in 2015, the\\ncompany was on a roll. As of December 2018, the company had 1,720 branches and\\noffered loans at 84,000 distribution points in the country. Retail loans to\\nconsumers account for a third of its business and another third comes from home\\nloans. The rest is from commercial lending to SMEs, trade finance, and\\nincreasingly to the farm sector. A third of the nation’s consumer durables\\nsales are routed through Bajaj Finance’s network and the firm has over 35 million\\ncustomers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIf retail loans account for just a third of the business,\\nwhy is the market valuing Bajaj Finance so high? The answer lies in the\\ncompany’s financial health: In the past five years, its revenues have increased\\nat a CAGR of 27% while net profit increased 30%, according to data from Prowess\\nand Capitaline. It has emerged as one of the biggest wealth creators in India\\nwith its average annual market capitalisation leaping 58% in five years to\\n₹1,40,143.1 crore on March 31,2019, putting it at the 4th spot in Fortune\\nIndia’s inaugural Wealth Creators list. Bajaj Finserv is No. 16 on the list.\\n“Over the years, Bajaj Finance has clearly demonstrated that it has been able\\nto cross-sell different products to its customers. It appears that it has a\\nhuge pool of unique customers which they can serve during the investment life\\ncycle,” says Alpesh I Mehta, deputy head of research at broking and investment\\nfirm Motilal Oswal.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe key lies in what the Bajaj companies did beyond\\nacquiring millions of customers. Over the years, BFL, and to a smaller extent\\nFinserv, have been using data collected from customers visiting retail outlets\\nin many ways. In 2015, it launched and offered an EMI card to customers who\\nalready had a relationship with Bajaj Finance. Customers paid ₹300 for the card\\nand there are over 12.9 million customers who can use the card to buy a million\\ndifferent products. The card offers instant loans at 43,000 outlets. Keeping in\\ntune with the times, the EMI card is available digitally on smartphones.\\nRecently, Bajaj Finance has also been selling general insurance and life insurance\\nproducts of Bajaj Allianz through its agent network, giving it insights into an\\nexpanded set of customers. The company says it has access to data on more than\\n80 million customers across all its businesses. “The Street is not treating the\\nBajaj group finance companies as plain-vanilla NBFCs. Clearly investors are\\nvaluing them on a par with a successful fintech based on their access to a huge\\npool of customers,” says finance veteran Amit Goenka, managing director and CEO\\nof Nisus Finance Services.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIt is this background of a huge customer base that makes\\nSanjiv’s new plan more potent. After Jain started in Bajaj Finance,he had\\nalready successfully reduced the turnaround time to disburse loans to 30\\nseconds, especially if the customer possessed a credit card and had a CIBIL\\ncredit rating above 750. However, loans were still given to only those\\ncustomers who walked into a consumer durables outlet and any other touch point\\nwhere they could share their data. In the new scheme of things, the two\\ncompanies will try to push loans just as customers make a decision on a\\npurchase. “We want to go from apply now to get it now,” says Mianwal.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTypically, for Bajaj, there are two sets of customers—one\\nwith whom the company already has a relationship and second, completely new\\ncustomers. When an existing customer visits a Bajaj digital interface like a\\nwebsite and identifies herself, the company captures over 150 attributes like\\nthe IP address from which she is operating, the handset she uses, her age\\nbracket and any previous relationship she has with them. This information is\\nthen used to offer her suitable loans: For example, if she is 30 years old and\\nsearching for a school, Bajaj Finance will prompt her with a loan to pay\\ninitial school deposits.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn case the customer is new to Bajaj’s services, then the\\ndigital marketing efforts kick in. For example, the company has targeted the\\nmedical community by tying up with networking app Curofy which has over 300,000\\nenrolled doctors. Mianwal is now pushing content on trends in the medical\\nprofession while also placing his widget on Curofy so doctors who want to buy\\nthe latest equipment can get loans.The company is also targeting data on\\nchartered accountants who help SMEs with their finances. Mianwal says early\\nresults show the traction from the new initiatives for these smaller sets of\\naudiences is impressive.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThese efforts of targeting new customers through digital\\nmarketing already account for 10-12% of overall digital revenues. Last year, 8%\\nof consumer loans came through digital channels. Mianwal is confident that this\\nrevenue will grow quickly. Even though Bajaj Finance has pro-files of 10\\nmillion unique customers for the online habits, existing and potential\\ncustomers clock 116 million sessions on the company’s various digital\\ninterfaces. The company expects to increase revenue from this stream as that\\nnumber increases to 20 or 40 million customers in the coming years.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThese are still early days. The company recently hired a\\ndesigner for the user interface and user experience for customers visiting its\\ndigital properties. In its insurance business, it is working up policies for\\ncommon, day-to-day applications that will be attractive to online customers.For\\nexample, in its general insurance business,for ₹1,000, a customer can buy\\ninsurance for the electronic car key of a Mercedes, which costs upwards of ₹2\\nlakh to replace. There are policies for expensive spectacles too. Says Tarun\\nChugh, managing director and CEO of Bajaj Allianz Life Insurance: “Our\\nunit-linked insurance plans area great hit in the digital medium largely due to\\nyoung and millennial customers. There are lessons to be learnt there.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn many ways, Sanjiv Bajaj has no option but to step on the\\ngas. Last month, new competition suddenly hit Bajaj Finance out of the blue\\nwhen India’s biggest wallet company, Paytm, tied up with Citibank to launch its\\nown credit card. Paytm has 300 million customers and it hopes to give credit\\ncards to a small percentage of its customers. They can even pay for their\\ncredit card purchases through EMIs. Will Bajaj Finance be able to take on the\\ncompetition? It’s certainly leaving no stone unturned in its efforts.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eCompanies like EarlySalary offer loans to salaried employees who face a temporary crunch towards the end of the month or for exigencies. 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Also, digital\\npayments transaction value is expected to reach $135.2 Bn by 2023, according to\\nan Assocham-PwC India study. Yet, the Indian fintech startups are still\\ngrappling for clear guidelines, incentivising tax reforms as well as clarity on\\nthe security infrastructure needed for around sustainable growth.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn its quest to be populist, the interim Union Budget of\\nFebruary 2019 didn’t address the specific needs of fintech startups. Akshay\\nMehrotra, cofounder and CEO EarlySalary believes the interim Union Budget 2019\\nwas aimed largely at the middle-classes and the salaried section of the\\npopulation, by offering tax relief through increasing income tax exemption\\nlevels.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHowever, the fintech community has high hopes from the\\nupcoming full Union Budget 2019, considering how the Narendra-Modi led NDA\\ngovernment has again come into power with full majority.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“It is hoped that the coming budget will offer further tax\\nsops. We hope to see some special incentives offered to startups, and overall\\nreduction in corporate tax, which unfortunately did not happen in the last\\nbudget,” Mehrotra added.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInc42 reached out to other notable players in the Indian\\nfintech ecosystem to talk about the gaps in the industry, and how the\\ngovernment can address them in upcoming Union Budget 2019, which will be\\nofficially announced on July 5.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eUnion Budget 2019: Expectations From Fintech Ecosystem\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWhile there were many varying expectations among the\\nstartups we spoke to, there were quite a few common demands from Indian fintech\\nstartups from the full Union Budget 2019. These can be summarised as below:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\u003cli\u003eHelp revive the financial services market by\\nlooking at NBFCs as a critical source of capital\u003c/li\u003e\u003cli\u003eGive financial institutions access to short term\\ncapital in periods of stress to help fintech startups scale faster and service\\nmore retail customers\u003c/li\u003e\u003cli\u003eGive more clarity or direction on eKYC using\\nAadhaar and a further push to digitalisation\u003c/li\u003e\u003cli\u003eImprove infrastructure to promote digitalisation\\nof transactions in rural part of the country\u003c/li\u003e\u003cli\u003eCome up with incentives and provisions to make\\nP2P gain a dynamic mechanism for accessing credit\u003c/li\u003e\u003cli\u003eBring back Aadhaar-based e-sign and e-NACH for\\nease of processes\u003c/li\u003e\u003cli\u003eAllow more freedom through regulatory routes in\\nsale of third-party products.\u003c/li\u003e\u003cli\u003eFix stamp duty rate applicable to digital\\nlending documents\u003c/li\u003e\u003cli\u003eCreate cess similar to Swachh Bharat Cess to\\nimprove digital literacy\u003c/li\u003e\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eSupport For MSME, NBFCs Is Need Of The Hour\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIndia’s GDP growth has slipped to a five year low of 5.8% in\\nJanuary- March quarter. There has also been a slowdown in credit flow in\\ncorporate and MSME sector from banks and traditional NBFCs. Ashish Sharma, MD and\\nCEO of InnoVen Capital, believes that the one area which has been challenging\\nis fintech balance sheet lenders; most companies are facing headwinds due to\\nthe NBFC crisis to raise both equity and debt capital.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMost of the industry stakeholders Inc42 spoke to believe\\nthat P2P lending industry is too small at present and might not even receive\\nany mention in the upcoming Union Budget 2019. However, the industry has huge\\npotential for growth in the coming years and the government should take some\\nsteps to push for the industry’s growth.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“Ideally, the government should make interest earned on P2P\\nlending tax-free which will attract a lot of retail customers towards this\\nsector,” Raghavendra Pratap Singh, cofounder, i2ifunding added.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn line with the same Bhavin Patel, cofounder and CEO of\\nLenDenClub, believes the government should think of allowing P2P platforms in\\ngiving Mudra Loans through Mudra Bank and back the defaults through a\\nstructured guarantee from the bank.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eGaurav Jalan, founder and CEO of mPokket added that fintech\\ncompanies can be allowed to participate in the recent initiative by SIDBI to\\nprovide loans under an hour and in the various measures under the Pradhan\\nMantri Mudra Yojna.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSpeaking about the same measures, Patel added, “It will\\nrevolutionise the way Mudra Loans are reaching to the end user in the country.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAlok Mittal, CEO and cofounder, Indifi Technologies voices\\nthe same opinion. He believes that credit inclusion for MSMEs is a critical\\nimperative to enable growth and job creation in India. It is expected the\\nupcoming budget will define concrete steps to mobilise access to financial\\nservices and empower the fintech startups that facilitate them.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“For instance, facilitating access to wholesale capital, and\\nextending credit guarantee schemes such as MUDRA can help in bolstering the\\nimpact and reach of these initiatives. Similarly, opening up API based access\\nto data within government and banking domains can help expand the reach of\\ndigital credit,” Mittal added.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“Less-Cash Society And A Less-Card India”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe RBI in its recent vision statement for payment systems\\nhad mentioned that there is a need to push for a “less-cash society” along with\\na “less-card India”. This can be achieved by taking steps to promote digital\\npayments and improve the supporting infrastructure for digital payments.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFirst and foremost, the fintech community is expecting\\ncontinuity and implementation of all ambitious schemes such as Ayushman Bharat\\nScheme announced by the government previously as well as higher tax relief.\\nGaurav Gupta, cofounder and CEO, Myloancare added the need for more clarity on\\neKYC using Aadhaar and a further push to digitalisation that can allow startups\\nto offer instant loans and reach out to the previously unbanked population of\\nthe country.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFurther, the government is expected to introduce budgetary\\nconcessions for digital payments and thereby reduce dependency on cash.\\nCustomer facing costs on IMPS transactions should be removed, added Abhishek\\nRay, head of legal and compliance, ePayLater.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMany fintech founders agree with Ray’s suggestions who added\\nthat in terms of improving the infrastructure, additional resources should be\\nallocated to improve Wi-Fi penetration in rural India. The government could\\nconsider using the existing network of post offices to create Wi-Fi spots.\\nEntry-level smartphones till a particular price point and technical\\nspecification should be exempt from taxes, he added.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAnand Kumar Bajaj, founder and CEO, PayNearby chimed in with\\nthe importance of AePS devices, which allow citizens to easily access\\ngovernment DBTs.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“It would be encouraging for the pro digital government to\\nmake these devices available for free to the business-correspondent industry directly\\nfrom NABARD. It would help in promoting digital payments in line with the\\ngovernment’s intent,” Bajaj added.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWill Fintech Get A Boost From Budget 2019?\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe fintech ecosystem has developed tremendously over the\\nlast few years and India is among the leading markets with respect to the pace\\nof adoption of fintech. Payments have clearly led the way, where India is on\\nthe cutting-edge globally thanks to measures such as UPI and BHIM.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe other sub-segments which are growing are financial\\nservices aggregators, lending platforms new-age Insurance players, platforms\\ncatering to the distribution of third-party savings, and investment products.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAnd as Shanti Mohan, the founder of LetsVenture, said in a\\nrecent guest post for Inc42, the fintech revolution is slowly bringing together\\nthe existing technologies on one platform.\\n\\n“While digitisation is the beginning of the\\nrevolution, it is further leading the millennials to the future comprising\\nsmart homes, smart cities, smart contracts, open banking and much more. Definitely,\\nthe future with fintech is worth looking forward to!”\\n\\n\\n\\n\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eUnion Budget 2019 has knocked the doors and the Indian fintech startups have a lot to say!\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25339,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[145],\"class_list\":[\"post-25338\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-budget-news-2019\",\"entry\"],\"better_featured_image\":{\"id\":25339,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":500,\"height\":334,\"file\":\"2019/07/shutterstock_785218492.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"shutterstock_785218492-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/shutterstock_785218492-150x150.jpg\"},\"medium\":{\"file\":\"shutterstock_785218492-300x200.jpg\",\"width\":300,\"height\":200,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/shutterstock_785218492-300x200.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":25338,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/shutterstock_785218492.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eUnion Budget 2019: What Do Fintech Startups Want From The Upcoming Budget - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/union-budget-2019-what-do-fintech-startups-want-from-the-upcoming-budget/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Union Budget 2019: What Do Fintech Startups Want From The Upcoming Budget - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Union Budget 2019 has knocked the doors and the Indian fintech startups have a lot to say!\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/union-budget-2019-what-do-fintech-startups-want-from-the-upcoming-budget/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2019-07-25T09:53:00+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2019/07/shutterstock_785218492.jpg?time=1710750578\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"500\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"334\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"6 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Union Budget 2019: What Do Fintech Startups Want From The Upcoming Budget - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"robots\":{\"index\":\"index\",\"follow\":\"follow\",\"max-snippet\":\"max-snippet:-1\",\"max-image-preview\":\"max-image-preview:large\",\"max-video-preview\":\"max-video-preview:-1\"},\"canonical\":\"https://altcont.fibe.in/news/union-budget-2019-what-do-fintech-startups-want-from-the-upcoming-budget/\",\"og_locale\":\"en_US\",\"og_type\":\"article\",\"og_title\":\"Union Budget 2019: What Do Fintech Startups Want From The Upcoming Budget - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"og_description\":\"Union Budget 2019 has knocked the doors and the Indian fintech startups have a lot to say!\",\"og_url\":\"https://altcont.fibe.in/news/union-budget-2019-what-do-fintech-startups-want-from-the-upcoming-budget/\",\"og_site_name\":\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"article_publisher\":\"https://www.facebook.com/EarlySalary/\",\"article_modified_time\":\"2019-07-25T09:53:00+00:00\",\"og_image\":[{\"width\":500,\"height\":334,\"url\":\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2019/07/shutterstock_785218492.jpg?time=1710750578\",\"type\":\"image/jpeg\"}],\"twitter_card\":\"summary_large_image\",\"twitter_misc\":{\"Est. reading time\":\"6 minutes\"},\"schema\":{\"@context\":\"https://schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https://altcont.fibe.in/news/union-budget-2019-what-do-fintech-startups-want-from-the-upcoming-budget/\",\"url\":\"https://altcont.fibe.in/news/union-budget-2019-what-do-fintech-startups-want-from-the-upcoming-budget/\",\"name\":\"Union Budget 2019: What Do Fintech Startups Want From The Upcoming Budget - 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This is in addition\\nto NCD issuance of $2 million recently.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe transactions have been structured and executed by\\nNorthern Arc Capital; an NBFC that partners with companies in India’s emerging\\nsectors to provide them access to credit. A loan assignment is a standard form\\nof assignment under which a lender assigns its rights relating to a loan\\nagreement to a new lender.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAshish Goyal, CFO, EarlySalary said, “The last few months\\nhave been challenging for NBFCs and with the evolving liquidity situation, we\\nwanted to expand our liability profile, wherein we explored the opportunity of\\ninnovative products like loan assignments and securitisation. We have also done\\nan NCD issuance of $2 million recently. We continue to look at all options to ensure\\nthat we have sufficient liquidity to expand our offerings to the customers.\\nThis transaction marks our journey to deepen the liability side of the business\\nand we expect to do many more transactions in the near future.’’\u0026nbsp;\u003cbr\u003e\\n\u003cbr\u003e\\nSet up three years ago, EarlySalary provides loans to people against their\\nsalary. It has a presence in 17 cities and has disbursed loans worth over Rs\\n850 crores.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eKshama Fernandes, CEO of Northern Arc said; “This\\ntransaction, set against the backdrop of a volatile market, is another proof of\\ninvestors’ confidence in the quality of our partners and the stringent\\nunderwriting process of Northern Arc. Our modus operandi has been to start\\nworking with high potential entities when they are small, to play an integral\\npart in their growth story, and our partnership with EarlySalary exemplifies\\nthat.”\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eA loan assignment is a standard form of assignment under which a lender assigns its rights relating to a loan agreement to a new lender. \u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25336,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[152],\"class_list\":[\"post-25335\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2019\",\"entry\"],\"better_featured_image\":{\"id\":25336,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":328,\"height\":219,\"file\":\"2019/07/ET-ES-image.png\",\"sizes\":{\"thumbnail\":{\"file\":\"ET-ES-image-150x150.png\",\"width\":150,\"height\":150,\"mime-type\":\"image/png\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/ET-ES-image-150x150.png\"},\"medium\":{\"file\":\"ET-ES-image-300x200.png\",\"width\":300,\"height\":200,\"mime-type\":\"image/png\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/ET-ES-image-300x200.png\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":25335,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/ET-ES-image.png\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - 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This development is part of the FinTech startup’s strategy to achieve its mid-term objective of a balance sheet of around INR 2000 crores and to build the company into a unicorn over the next five years.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAnil Sinha as the Head of Engineering will be responsible for the technology aspects at EarlySalary. He is passionate about Technology and has strong Leadership skills driven by core human values. He has worked on various Techno-functional Leadership roles (with hands on code) and delivered complex products in the space of distributed data processing, especially related to trade processing and risk analytics. Anil is also the author of ‘Building Blocks of Blockchain’, an acclaimed non – fictional book which explains the core concepts of Blockchain, Bitcoin and Ethereum. Prior to joining EarlySalary, he was Vice-President at Deutsche Bank. He has also worked with Barclays Investment Bank, RBS Global Banking \u0026amp; Markets, Nagarro and Interra Information Technologies. He has a BTech in Electrical Engineering from the Indian Institute of Technology, Kharagpur.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTalking about his new role Anil Sinha said, “It has been a wonderful first week at EarlySalary. I met different people and have started getting to know them and also understanding the system here. What drew me to the company in the first place, is the culture here. The environment is very open and conducive to innovation. Also, every employee of EarlySalary is obsessed with doing what is best for the customer, who is kept in mind for everything that we do here. I look forward to working with my colleagues and our customers to take EarlySalary to the next level.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSandeep Raghunath as Head of Human Resources will oversee the People Management at EarlySalary. He is a seasoned Human Resources leader and strategist. His areas of expertise are Strategic HRM, Diversity \u0026amp; Equality, Business Partnering of senior leaders, Change Management and Talent Management. He has held multiple roles both in India and overseas in the private and public sectors. He was a part of the British Government’s elite Civil Service Fast Stream programme and has worked with the Hon. Nick Clegg, the former Deputy Prime Minister of the UK to conceptualise, implement and run the UK wide Whitehall Diversity Internship Programme, that seeks to encourage young people from under- represented backgrounds to consider a Civil Service career.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eElaborating on his new role, Sandeep Raghunath said, “We are looking to transform EarlySalary into a FinTech flagship organization that is an Employer of Choice and a Best Place to Work. We are always scouting for great talent and are looking to hire more people who exemplify EarlySalary’s brand values. We are a data driven organization and will use data analytics to make business decisions. One of our assets is our open work culture and high energy workplace which our team here capitalises on to learn more on the job.”\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAkshay Mehrotra, Co-founder and CEO of EarlySalary said, “Both Sandeep and Anil are extremely talented individuals, who are experts in their domains. They have both espoused the brand values of EarlySalary and are pivotal to our vision of the company. We are extremely lucky to have them on board and I look forward to working closely with them.”\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary has a presence in 17 cities across the country. EarlySalary 2.0 offers customers a simpler interface to accommodate complex product needs of the customers which includes customer service requests, limit management, self \u0026#8211; serving platform, a Chatbot, etc. EarlySalary disburses loans, based on a unique social media based underwriting system and machine learning platform. The FinTech start-up has also introduced a Smart Office in Bengaluru as an offline channel of engagement with customers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary was founded by Akshay Mehrotra and Ashish Goyal in 2016 and recently became India’s largest consumer lending application by crossing 7, 50,000 Loans and disbursing more than INR 1300 Crores.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAbout EarlySalary.com\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFounded by Akshay Mehrotra and Ashish Goyal, EarlySalary is a mobile app which allows salaried individuals to avail of financial assistance. The company offers banquet of products tailor to need of young India including salary advances, instant loans, interest free EMI options and a line of credit to shop. The company conducts prudent risk assessment by leveraging machine learning to go beyond financial underwriting.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn January 2018, EarlySalary raised INR 100 crores led by Eight Roads Ventures (Fidelity). With more than 9 Million Downloads and loans worth INR 1300 Cr having already been disbursed, EarlySalary is helping customers borrow within minutes. EarlySalary has fast become the 1st line of credit for young working professionals in India.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eKey Features\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e· Instant access to funds in less than 10 minutes\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e· High Automation: 73% loans are Machine Approved \u0026amp; instantly disbursed\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e· Loans of values ranging from Rs. 5,000 to Rs. 2 Lac cash can be accessed for a tenor from 50 days to 2 years.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e· Shop now and pay later \u0026#8211; ability to use the loan limit to shop online on credit on Amazon, Flipkart \u0026amp; BigBazaar.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e· FeES: education loans to pay for your child’s school fees \u0026amp; education needs or pay for a skill upgradation course.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAnil Sinha appointed as Head-Engineering and Sandeep Raghunath as Head-HR\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25333,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[152],\"class_list\":[\"post-25332\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2019\",\"entry\"],\"better_featured_image\":{\"id\":25333,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":700,\"height\":593,\"file\":\"2019/07/EarlyAnilnSandeep_63837.png\",\"sizes\":{\"thumbnail\":{\"file\":\"EarlyAnilnSandeep_63837-150x150.png\",\"width\":150,\"height\":150,\"mime-type\":\"image/png\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/EarlyAnilnSandeep_63837-150x150.png\"},\"medium\":{\"file\":\"EarlyAnilnSandeep_63837-300x254.png\",\"width\":300,\"height\":254,\"mime-type\":\"image/png\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/EarlyAnilnSandeep_63837-300x254.png\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":25332,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/EarlyAnilnSandeep_63837.png\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - 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The ratings assigned to the debt instruments of EarlySalary\\ntakes into account its adequate capitalization along with participation from\\nreputed private equity investors, diverse and deep experience of the top\\nmanagement, and robust business and operations process.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCARE Ratings provides the entire spectrum of credit rating\\nthat helps corporates to raise capital for their various requirements and\\nassists investors to make an informed investment decision based on the credit\\nrisk and their own risk-return expectations.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe key rating strengths of EarlySalary includes\\nparticipation of diverse investors, diverse experience of management in retail\\n\u0026amp; financial services business, comfortable capital adequacy, robust\\nbusiness, operations process and liquidity position. In 2018, EarlySalary\\nraised $ 15.7 million in Series B funding led by Eight Roads Ventures India.\\nEarlySalary also recently became the first consumer fintech lender to complete\\na loan assignment transaction with Northern Arc Capital worth $ 1 million. This\\nis in addition to an NCD issuance of $2 million recently.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSpeaking about this development, Akshay Mehrotra, the CEO\\nand Co-founder of EarlySalary said, “We recently completed three years of\\noperations and this credit rating from CARE, one of the leading credit rating\\nagencies in India, is a validation of all our business efforts. 2018 was an\\nextremely eventful one for EarlySalary as we raised our Series B funding,\\nbecame the largest consumer lending application in the country, and acquired a\\npromising FinTech startup. Further, we became the first consumer lender to\\ncomplete a loan assignment transaction and worked on many other initiatives to\\nserve our customers better. We are proud of these achievements, which\\nestablishes how strong an impact we have made on the market in a relatively\\nshort period of time.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eElaborating on this, Ashish Goyal, CFO and Co-founder of\\nEarlySalary added, “The Investment grade credit rating from CARE is a testimony\\nof our strong business principles, robust models, and sound risk management\\npractices. While the last few months have been challenging for NBFCs, we have\\nreceived strong support from the market, and we are confident that this will\\ninstill more confidence and will help in the expansion of our resource base and\\nliquidity profile.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary caters to salaried professionals, above 21 years\\nof age with a monthly salary of above Rs 18,000. 24 \u0026#8211; 30 year olds are the\\nlargest user base of the mobile first application and over 55% of these\\nborrowers work for the top 200 corporates in the country. The application has\\nbeen downloaded over 9 million times so far and over 500,000 loans worth INR\\n850 crores has been disbursed. Users can currently avail loans of up to INR 2\\nlakhs; a line of credit ranging from 50 days to 2 years and interest-free EMIs\\nfor shopping \u0026amp; travel.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eEarlySalary, India’s largest consumer lending application, has received a credit rating of CARE BBB; Stable (Triple B, Outlook: Stable) from CARE Ratings.\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25331,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[152],\"class_list\":[\"post-25329\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2019\",\"entry\"],\"better_featured_image\":{\"id\":25331,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":500,\"height\":252,\"file\":\"2019/07/shutterstock_1065065831-1.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"shutterstock_1065065831-1-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/shutterstock_1065065831-1-150x150.jpg\"},\"medium\":{\"file\":\"shutterstock_1065065831-1-300x151.jpg\",\"width\":300,\"height\":151,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/shutterstock_1065065831-1-300x151.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"1\",\"keywords\":[]}},\"post\":25329,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/shutterstock_1065065831-1.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eEarlySalary Receives CARE Credit Rating of BBB - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/earlysalary-receives-care-credit-rating-of-bbb/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"EarlySalary Receives CARE Credit Rating of BBB - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"EarlySalary, India’s largest consumer lending application, has received a credit rating of CARE BBB; 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The son of an Indian Air Force\\nofficer, he studied in places like Agra, Kanpur, Gwalior and Allahabad, while\\nhis career took him to metros like Delhi, Bengaluru and Mumbai. Yet, when the\\n38-year-old decided to quit his corporate career in Mumbai as the chief\\nmarketing officer at Big Bazaar (Future Value Retail) in 2015 to launch his own\\nfintech startup, he chose a relatively unconventional location—Pune. Mehrotra\\nis the co-founder and CEO of EarlySalary, a digital lending platform that gives\\nshort-term instant credit to customers, to be repaid over the next few days or\\nafter the next month’s salary arrives.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAfter receiving\\nseed funding of $1.5 million from Ashok Agarwal of the Transcorp Group,\\nMehrotra and his co-founder Ashish Goyal, both first-time entrepreneurs, gave\\nserious thought to where they wanted to set up shop. “We noticed that,\\nglobally, banking tech is built in Pune, not Bengaluru. The big banks\\n[Citibank, Deutsche Bank, Barclays, Credit Suisse] have built development\\ncentres here, each employing 5,000 to 15,000 people in their tech teams. So if\\nwe want to disrupt banking and hire the right talent, Pune seemed the best\\nplace to be,” he says. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSince its launch\\nin 2016, EarlySalary has built a team of over 200 employees, with an 85 percent\\nretention rate. The startup has disbursed 7.5 lakh loans worth ₹1,350 crore\\ntill date. Mehrotra claims they have 2.5 lakh paid customers, 90 percent of\\nwhom transact repeatedly.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn 2018, it\\nacquired Mumbai-based checkout financing startup CashCare for an undisclosed\\namount. The same year, Mehrotra and Goyal raised ₹100 crore in a series B\\nfunding round led by Eight Road Ventures, the investment arm of Fidelity\\nInternational, which also saw existing investors Dewan Housing Finance Ltd, IDG\\nVentures and Ashok Agarwal participate.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u0026nbsp;“On a monthly basis, we contribute almost ₹35\\ncrore to the balance sheet. Our 18-month aspiration is a ₹1,000-crore balance\\nsheet. We will turn profitable in the next three to four months,” Mehrotra\\nsays, explaining that the decision to start up in Pune—where he finished his\\nMBA from Symbiosis Institute of Business Management—proved worthwhile. “Being\\nclose to Mumbai, we get access to the best financial insights. Operational\\nexpenditure is almost 30 percent lower than Bengaluru-based startups. Our\\nemployees say Pune offers them a better lifestyle: Low rentals allow them to\\nstay close to the workplace, commute time is less, and the weather is great\\ntoo.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn an October 2018\\nreport titled Rise of the Global Startup City, the Center for American\\nEntrepreneurship called Pune an emerging startup hub in the ‘Global Next’ category.\\nIt was the only Indian city on the list, apart from Hyderabad, and featured\\nalongside Columbus, Detroit, Las Vegas, Moscow, Orlando, Cincinnati and\\nNashville. The report said that this category accounts for less than 1 percent\\nof global venture capital (VC) investments and has the potential to grow. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe report\\nfindings are supported by a June 2019 KPMG report titled Pune 2.0: The Startup\\nHub, which show that Pune received funding worth $1 billion (₹6,653 crore)\\nthrough 132 deals between 2014 and 2018. The city has close to 3,200 startups,\\nwith 2 percent of India’s tech startups based there. Pune is the second highest\\ncontributor to Maharashtra’s economy after Mumbai, with an estimated GDP of\\n₹4.7 trillion. It also constitutes about 11 percent of India’s total IT and\\nITES exports. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“Pune’s cultural\\nfabric is welcoming to new ideas and people. The presence of numerous\\neducational institutions here provides a talent pool that could be leveraged\\nthrough more coordination between academia and industry,” says Milind Borate,\\nco-founder of Druva. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe Pune-born data\\nprotection company became India’s latest unicorn (a startup valued at more than\\n$1 billion) after it raised $130 million in a funding round led by US-based\\nViking Global Investors in June. Investors in the startup—which was launched in\\nPune in 2008 and is also based in California since 2011—include Sequoia\\nCapital, Nexus Venture Partners, Riverwood Capital and Tenaya Capital. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ePune remains the\\nbase for Druva’s engineering, research and product development, with over 450\\nof its 700-strong workforce. Borate says that while the funds will be used to\\nexpand operations in Europe and Asia Pacific, they also expect to roll out new\\nproducts and reach 1,000 employees. The facility in Pune, he adds, will be at\\nthe centre of these developments. “The vision is to enable protection and\\nmanagement for all kinds of data.” \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBuilding on Legacy\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInvestors believe\\nthat Pune’s legacy as a multi-industry hub, dating back to the early 1960s, has\\npaved the way for startups. Apart from automobiles, the city also has a strong\\npresence of established banking, IT and electronics industries. “Pune is a B2B town.\\nThe industry is shifting from providing technology services to developing\\nsoftware products. Startups here could benefit from this,” believes Gireendra\\nKasmalkar, lead investor and general partner of Alacrity India, one of the\\nfirst Pune-based VC funds. “Investors are willing to encourage startups that\\nwant to solve problems and fulfill needs in their respective industries.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith a corpus of\\n$10 million, Alacrity India started operations in the second half of 2018, with\\nCanada-based investment management firm Wesley Clover International and\\nKasmalkar’s Ideas to Impact as lead investors in the fund. It recently made its\\nfirst investment in Tripeur, a B2B travel-tech AI startup. In February 2019,\\nthe company launched an incubation centre to mentor and provide networking\\nopportunities to startups in the city. Gaurav Bansal, principal at Alacrity\\nIndia, says that the centre provides detailed feedback to entrepreneurs on\\ntheir business ideas from an investor’s lens. “Stakeholders in the Pune startup\\necosystem need to explore local neighbourhoods and develop an integrated\\necosystem.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eKiran Deshpande,\\npresident, The Indus Entrepreneurs (TiE) Pune, a nonprofit that has mentored\\nover 100 startups since 2012, says that the Tie Pune Angel has close to 25\\nmembers, a number that could rise with angel tax relief. “Following the US, I\\nrecommend the government to consider tax rebates for individuals investing in\\nstartups,” he says.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEntrepreneurs\\nbelieve that increased mergers and acquisitions in the last two years has also\\ngiven an impetus to startups. Abhijit Gupta, founder of health tech startup\\nPraxify Technologies, gives examples of how, in 2018, personal finance\\nmanagement startup Walnut was acquired by Capital Float for $30 million (₹2.1\\nbillion), while Big Basket acquired RainCan, a hyperlocal delivery service for\\nfresh and perishable items, for an undisclosed amount. Gupta’s own company was\\nacquired by cloud-based electronic health record company Athenahealth for $63\\nmillion in 2017.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“Entrepreneurs who\\nhave seen exits recently are turning into angel investors. They are driven by\\nthe sense of giving back that will also help them grow,” he says, explaining\\nthat the over-exposure and saturation of startups in Bengaluru and Mumbai has\\nresulted in high employee churn and poaching. “Here, employees remain with the\\nsame firm for eight to nine years or more. Pune gives people the space to\\ncreate something ground-up without them jumping from one profile to another in\\nsearch of the largest pay cheque.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBuilding It Right\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWhile Pune-based\\nstartups seem to have no trouble retaining talent, many have a tough time\\nfinding it. Pune has over 811 colleges, which, experts say, are disconnected\\nfrom the skill requirements of the industry and mostly provide talent only at\\nentry or junior levels. Other concerns, according to multiple stakeholders, is\\naccess to capital, lack of incubators and accelerators.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eShardul Sheth,\\nco-founder of agri-tech firm AgroStar, says, “When you want to scale up,\\nfinding senior or experienced talent is a challenge in Pune. Once people come\\nhere, they don’t want to move out, but getting people here is not easy.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMaharashtra Chief\\nMinister Devendra Fadnavis has declared that Pune will displace Bengaluru as\\nthe startup capital of the country “within two to three years”, promising\\n“lakhs of job opportunities for the youth”.\u0026nbsp;\\nEntrepreneurs, however, believe that this depends on a number of\\nfactors, starting with infrastructure creation.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo begin with,\\nlocalities with high startup and business activity—Hinjewadi, Baner, Pashan,\\nand Viman Nagar—are in different pockets outlining the city. Construction of a\\nring road to ease traffic congestion and connect these localities has not yet\\nmaterialised. Public transport remains an issue. “We keep hearing there will be\\nbetter infrastructure, but it’s all on paper so far. Hinjewadi, developed as a\\nbusiness hub, is beginning to tell the same story as Whitefield [Bengaluru’s\\ncongested IT corridor],” says Gupta of Praxify.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ePune has pinned\\nits hopes on the ongoing metro rail construction—expected to be operational by\\n2021 and developed at a cost of ₹20,000 crore—and the proposed circular ring\\nroad. The construction of an international airport at Purandar has been delayed\\ndue to land acquisition issues, while a new terminal is being built at the\\nexisting Lohegaon airport. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e“To keep up with\\nstartup activity, governments must work 10 times faster than their regular pace\\nof infrastructure development. They must put the right energy and effort into\\nthis, else the hubs booming now will soon be dead,” Gupta warns. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eVaibhav\\nDomkundwar, founder of Pune-based VC firm Better Capital, agrees with Gupta.\\nAccording to him, for Pune to rival Bengaluru in the next five years, it is\\nessential to “establish startup hubs with pre-defined infrastructure in\\ndifferent parts of the city and around colleges.” He also calls for a 10x\\ngrowth in local angel investors and seed funds.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo address\\nconcerns related to startups, the government had created the Pune Idea Factory\\nFoundation (PIFF) as a subsidiary of the Pune Smart City Development\\nCorporation (PSCDC) in 2017. Rajendra Jagtap, CEO of PSCDC, says they have an\\nannual budget of ₹5 crore for startups under PIFF, which might increase to ₹15\\ncrore as more startups come in. The Pune Municipal Corporation (PMC) provides\\nsupport in the form of land. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eJagtap’s\\nshort-term goal is to create a Centre of Excellence, which will strengthen the\\nexisting 19 incubation centres in Pune and provide startups with a space for\\ninnovation, networking and mentorship. The PSCDC has collaborated with academic\\nand industrial entities like Nasscom, Google Earth and University of New South\\nWales in Australia to conceptualise this project. “The focus will be to improve\\nupon the success of startups and help them scale up. We have identified land\\nand are likely to get the physical space by November. Then we will sign the MoU\\nand start building the space,” says Jagtap.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHis long-term\\nvision involves creating a digital innovation platform “along the lines of\\nFlipkart and Amazon”, where hackathons could take place 24\u0026#215;7 and companies from\\nacross Pune could get in touch with VCs and mentors online. “The PIFF will help\\ncreate this platform and also evaluate startups on the basis of the criticality\\nof the solutions they are proposing. We will specifically encourage ventures in\\nagriculture, pharmacy, education, automobile and urban environment whose\\nproducts aid smart city goals,” he says.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe official\\nadmits that physical infrastructure is a constraint but ensures that their\\nimmediate focus is on completing the metro on time, decongesting city roads,\\npromoting the use of public transport, developing last-mile connectivity and integrated\\nmulti-modal transportation. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003ePradeep Udhas,\\noffice managing partner—west at KPMG, who developed the report on Pune as a\\nstartup hub, says that the government must also consider something like the\\nStartup Village in Kochi, which has been developed under a public-private\\npartnership. According to him, while Bengaluru has a more entrepreneurial\\nmindset, people in Pune might still prefer the safer corporate job. “Once they\\nsee labs and opportunities coming in, once they see local startups succeeding, their\\nmindset will change. For Pune to become Bengaluru, it’s only a matter of time.”\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAkshay Mehrotra, CEO of EarlySalary, grew up in at least 10 cities across India. 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Akshay Mehrotra and Ashish\\nGoyal established the Pune based startup in 2016. The monthly disbursal rate\\nhas seen a significant 200% year on year growth. It has grown from INR 3 crores\\nin March 2017 to INR 34 crores in March, 2018 and to INR 102 crores in March,\\n2019. The mobile application has been downloaded over 9 million times so far\\nand over 600,000 loans have been disbursed in the last three years. EarlySalary\\ncaters primarily to the underserved sections of society such as young salaried\\nprofessionals as well as the blue and grey collar workers.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary currently disburses over 60,000 loans a month\\nand less than 3000 of these loans require any kind of human intervention,\\nbecause of the high level of digitisation that the platform operates on. The\\ndecision-making process is based on a unique lending algorithm that combines\\ntraditional credit scores with non-traditional data and other parameters linked\\nrisk assessment. Both first time and repeat users of the application are reviewed\\nthrough a unique SocialWorth underwriting system and machine learning platform\\nwhich allows salaried individuals which includes offering loans to New to\\nCredit (NTC) also.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary currently has over 225 corporate partners where\\na total of 5 lakh employees work. They can avail of the salary advances with\\ngreat ease. EarlySalary’s customers can also avail of the credit line approved\\nto transact on Amazon, Flipkart, MakeMyTrip, Yatra and Big Bazaar. Similarly,\\nadditional features now include easy School Fee Finance \u0026amp; Education loans\\nfor Skill Upgradation. They also recently opened India’s first ever FinTech\\nSmartOffice in Bengaluru, which acts as an offline channel for customer\\nengagement.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSpeaking on the development, Akshay Mehrotra, the Co-founder\\nand CEO of EarlySalary said, “India is a fast growing market with a large\\npercentage of young population. However, there is still a lack of access to\\ncredit, which ultimately is essential for development. This is where we come\\nin; EarlySalary provides the credit underserved groups with timely financial\\nassistance through technology and data-driven approach with a low delinquency\\nrate. This has helped us scale up the business very quickly and we believe that\\nwe will cater to at least four to five million users in the next couple of\\nyears. The fact that we are now the country’s largest consumer lending\\napplication is a testimony of the faith and confidence that our users have in us.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAshish Goyal, the Co-founder and CFO of EarlySalary added,\\n“EarlySalary addresses an important requirement; to provide a timely and hassle\\nfree experience to users seeking financial assistance. Providing the best\\ncustomer experience is our highest priority, hence, we have launched 360-degree\\nproducts that allow new users to access their credit lines. When we look back\\nat the last three years of our existence, we have had our fair share of\\nexcitement and have successfully scaled up the business. We are now determined\\nto take EarlySalary to the next level.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAbout EarlySalary.com\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFounded by Akshay Mehrotra and Ashish Goyal, EarlySalary is\\na mobile app, which allows salaried individuals to avail of financial\\nassistance. This is similar to salary advances or credit card cash withdrawals,\\nempowering consumers with ready cash when they need it the most. The company\\nconducts prudent risk assessment by leveraging machine learning to go beyond\\nfinancial underwriting.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary raised INR 100 crore funding in January 2018 led\\nby Eight Roads (Fidelity) Ventures. With loans worth INR 1000 crore having\\nalready been disbursed, EarlySalary is helping customers borrow within minutes.\\nWhile concentrating on providing instant loans to young working professionals,\\nEarlySalary has fast become the first line of credit for young working\\nprofessionals in India.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eKey Features\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInstant Salary Advance in less than 10 minutes\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eHigh Automation: 73% of loans are Machine Approved \u0026amp;\\ninstantly disbursed \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInstant Cash: Salary advance/cash loans transferred to bank\\nanytime instantly \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eShort duration: Cash loans from 7 days up to 90 days for the\\nfirst loans and repeat customers can get longer tenure loans also. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eInstant Transactions: From Rs. 5,000 to Rs. 2 Lac cash\\ntransferred to the customer’s bank account \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eShop now and pay later \u0026#8211; ability to use the loan limit to\\nshop online on credit on Amazon, Flipkart \u0026amp; BigBazaar. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarlySalary Shakti: special instant loans to underserved\\nBlue \u0026amp; Grey Collared Working Professionals \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFeES: education loans to pay for your child’s school fees\\n\u0026amp; education needs or pay for a skill upgradation course.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eEarlySalary crossed the INR 1000 crore disbursal mark, indicating solidity in the 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This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eEarlySalary Has Successfully Crossed the INR 1000 Crore Disbursal Mark - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/earlysalary-has-successfully-crossed-the-inr-1000-crore-disbursal-mark/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"EarlySalary Has Successfully Crossed the INR 1000 Crore Disbursal Mark - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"EarlySalary 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It’s why we came up with the idea of EarlySalary to provide\\nunsecured, easily accessible financial assistance.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEARLY DAYS: The ability to lend in real time is critical for\\nbuilding a short-term loan model, according to Mehrotra. “In the first phase,\\nwe created an app to facilitate easier customer interaction and started to\\nbuild an algorithm-based underwriting system for faster decision-making. The\\nkey aspect about EarlySalary is that the lending procedure takes place without\\nphysical interaction or applicants having to give justifications,” he said.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBIGGEST CHALLENGE: Giving out loans in a matter of seconds instead of days was the toughest challenge. “Financial products involve several risks and minimising them causes delays. Over the past three years, we have built systems and processes for automation that have successfully eliminated the need for any customer to be physically present,” he said. “Today, we are able to disburse over 50,000 loans and salary advances in a month, with minimum amount of risk. All this with the help of a small team of about 170 employees.” \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWHERE THE STARTUP IS NOW: EarlySalary is the largest consumer-lending application in the country with over 9 million downloads. It has disbursed over 5,00,000 loans worth over Rs 850 crore. Instant loans worth nearly Rs 100 crore are currently being disbursed every month. \u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eThe inception of EarlySalary is supported by the idea to provide loan in seconds to young professionals.\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":24616,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[147],\"class_list\":[\"post-25321\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-startup\",\"entry\"],\"better_featured_image\":{\"id\":24616,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":1920,\"height\":1248,\"file\":\"2019/02/african-3947833_1920.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"african-3947833_1920-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-150x150.jpg\"},\"medium\":{\"file\":\"african-3947833_1920-300x195.jpg\",\"width\":300,\"height\":195,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-300x195.jpg\"},\"medium_large\":{\"file\":\"african-3947833_1920-768x499.jpg\",\"width\":768,\"height\":499,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-768x499.jpg\"},\"large\":{\"file\":\"african-3947833_1920-1024x666.jpg\",\"width\":1024,\"height\":666,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-1024x666.jpg\"},\"post-thumbnail\":{\"file\":\"african-3947833_1920-672x372.jpg\",\"width\":672,\"height\":372,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-672x372.jpg\"},\"thegem-post-thumb\":{\"file\":\"african-3947833_1920-256x256.jpg\",\"width\":256,\"height\":256,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-256x256.jpg\"},\"thegem-custom-product-categories\":{\"file\":\"african-3947833_1920-766x731.jpg\",\"width\":766,\"height\":731,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920-766x731.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"400\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":24615,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/02/african-3947833_1920.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - 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Deep tech focus, especially reskilling programmes, will greatly help boost the talent pool and is much needed,” said Akshay Mehrotra, co-founder and CEO of EarlySalary, India’s largest consumer-lending application.\u003cbr\u003eMehrotra pointed out that MSMEs’ 59-minute loan — by which MSMEs can get a loan of Rs 1 crore within 59 minutes through a dedicated online portal— will be a big boost to SME players. “Start-ups/investors, who file requisite declarations will not be subjected to any kind of scrutiny in respect of valuation of share premium. This will further boost domestic angel investment, which is much needed to retain capital growth showcased by start-ups. Also, reduction in corporate tax to 25 per cent for turnover less than Rs 400 crore has been a much awaited addition… I really liked the idea of taking start-ups to TV and mass media to reach out to the entire nation,” added Mehrotra.\u003cbr\u003eJasveer Singh, co-founder, Sense it Out, said: “A new National Education Policy aimed at boosting higher education with focus on AI, IoT, VR and Robotics, among others, will help improve the skills of engineering students. Start-ups run on tight budgets and can afford only freshers, but they severely lack the skills the industry demands. The government’s move will give a major advantage to start-ups by providing skilled employees. But this will take a few years to show results,” Singh said.\u003cbr\u003e\u003cbr\u003eSingh is upbeat about the Finance minister’s mention of zero-budget farming that “gives a sense of how the government is thinking about the agri sector. This will encourage a lot of new agritech start-ups to come up”.\u003cbr\u003eSiddharth Khinvasara, co- Founder, EarthFood, an online grocery store, sees promise in the Budget’s provisions for the agriculture sector. “The government’s stance of setting up 10,000 farm producer organisation by 2022, which will ensure economies of scale for farmers regarding access to inputs and markets, will enhance the agriculture sector. Additionally, 80 livelihood business incubators and 20 technology business incubators will be set up to produce 75,000 skilled entrepreneurs in agro-rural industries. This will be a boost for a lot of budding entrepreneurs in the agri space. The government’s focus on promoting entrepreneurship is quite evident,” he said.\u003cbr\u003eThe Budget has also given push to Electric Vehicles (EVs). The Finance minister said the government had moved the GST council to reduce the GST rate on EVs to 5 per cent from 12 per cent. She added that an additional income tax deduction of Rs 1.5 lakh would be provided on the interest paid on a loan taken to buy an EV. This would result in a benefit of around Rs 2.5 lakh over the loan period to the taxpayer who takes a loan to purchase an EV. “The announcement of reduction of GST on EVs and deduction of interest on a loan of an EV are very encouraging moves towards making them more affordable for the masses. We are very bullish about the future of electric vehicles in India,” said Amit Jain, CEO and co-founder of\u0026nbsp;\u003ca href=\\\"https://indianexpress.com/about/cardekho/\\\"\u003eCarDekho\u003c/a\u003e.com.\u003cbr\u003eThe Union Budget aims at making India a $5 trillion economy by 2025, and to achieve it, Aditi Walunj, co-founder and chief strategy officer, Repos Energy, Pune, said start-ups will have to play a big role. “As a young woman entrepreneur in India trying to build a company that creates value for the nation, the 2019 Budget was satisfactory to me. The first impression was that the\u0026nbsp;\u003ca href=\\\"https://indianexpress.com/about/narendra-modi\\\"\u003eNarendra Modi\u003c/a\u003e-led government is ready to walk the talk. Encouraging start-ups with a slew of tax benefits is a welcome move. For better labour participation, the development in the programme of women self help groups (SHG) interest subvention is especially appreciable.” Sitharaman in the Budget speech said, “For every verified woman SHG member, having a Jan Dhan Bank account, an overdraft of Rs 5,000 will be allowed. One woman in every SHG will also be made eligible for a loan up to Rs 1 lakh under the MUDRA scheme.”\u003c/p\u003e\u003cp\u003e\u003ca href=\\\"https://indianexpress.com/article/india/karnataka-live-updates-bs-yeddyurappa-plans-return-to-chair-bjp-party-leaders-to-meet-guv-5846769/\\\"\u003eKumaraswamy non-committal of JDS\u0026#8217; future with Congress\u003c/a\u003e\u003cbr\u003eWalunj said that the Indian economy “with its heavy reliance on the service sector, is prone to external shocks. The idea of promoting ‘Make in India’ programme to make India a manufacturing hub is an essential step today and it is good to see that the 2019 Budget has laid out provisions for the same.”\u003cbr\u003eKiran Deshpande, president, TiE (The Indus Entrepreneurs) Pune, an organisation that fosters entrepreneurs, praised the “good measures”, including extension of Start-up India to 2025, training in new age technologies, livelihood incubators and support for agri entrepreneurs and no scrutiny for angel investment in tax returns, proposed in the Budget on Friday. He said: “The government could have introduced tax breaks for angel investors as it exists in other countries… Most importantly, government processes and functionaries, especially at the leaf node, continue to operate in archaic and obstructive ways, creating difficulties for start-ups. If you need the licence from FDA, power provisioning etc, it is painful dealing with local agencies,” he said \u003c/p\u003e\u003c/blockquote\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003e“I can see a lot of focus of this Budget on start-ups. Deep tech focus, especially reskilling programmes, will greatly help boost the talent pool and is much needed,” said Akshay Mehrotra, co-founder and CEO of EarlySalary, India’s largest consumer-lending application.\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":25318,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[145],\"class_list\":[\"post-25317\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-budget-news-2019\",\"entry\"],\"better_featured_image\":{\"id\":25318,\"alt_text\":\"\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":800,\"height\":450,\"file\":\"2019/07/Budget-news.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"Budget-news-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/Budget-news-150x150.jpg\"},\"medium\":{\"file\":\"Budget-news-300x169.jpg\",\"width\":300,\"height\":169,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/Budget-news-300x169.jpg\"},\"medium_large\":{\"file\":\"Budget-news-768x432.jpg\",\"width\":768,\"height\":432,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/Budget-news-768x432.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":25317,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/07/Budget-news.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eUnion Budget 2019: Start-ups give thumbs up to slew of measures - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/union-budget-2019-start-ups-give-thumbs-up-to-slew-of-measures/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Union Budget 2019: Start-ups give thumbs up to slew of measures - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"“I can see a lot of focus of this Budget on start-ups. 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Be it an unexpected medical emergency, or a move to a new city, we relied on informal source of credit or ended up paying high interest rate on our credit cards.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eA few year later, while on a business trip, some former colleague and I wanted to explore the city, however, a few of them opted out since it was month end and they were short of money. This led to a conversation about how we should be able to rely on our smartphone for credit as well. That was the click moment for EarlySalary, when I realised that there was potential for a mobile application providing short-term financial assistance at a low interest rate to salaried professionals. I created a business model the same night, and went to my co-founder, Ashish with it.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eOur revolutionary business model revamped the lending market in India. Early Salary introduced instant short-term loans, that were disbursed, based on a unique social media based underwriting system and machine learning platform. This allows even a person who is new to credit to borrow.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eEarly Salary is today one of the largest consumer lending application in the country, having dispersed over Rs1,000 crore, and growing at a rapid pace.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe application has been downloaded over 9 million times. Our credit line can be used to transact on Amazon, Flipkart, MakeMyTrip, Yatra and Big Bazaar. Similarly, we also offer education loans.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eRunning a cash intensive business such as lending is like being on a treadmill; you have to keep moving, to succeed. We have an unwavering passion for customer service and this has been the cornerstone for our success.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cem\u003eAkshay Mehrotra, CEO, Early Salary\u003c/em\u003e\u003c/p\u003e\\n\\n\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eEarlySalary provides short-term financial assistance at a low interest rate to salaried professionals.\u003c/p\u003e\\n\",\"protected\":false},\"author\":1,\"featured_media\":24925,\"menu_order\":0,\"comment_status\":\"open\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[144],\"class_list\":[\"post-25310\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-salary-credit\",\"entry\"],\"better_featured_image\":{\"id\":24925,\"alt_text\":\"month end cash crunch\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":1000,\"height\":667,\"file\":\"2019/05/shutterstock_517242967.jpg\",\"sizes\":{\"thumbnail\":{\"file\":\"shutterstock_517242967-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967-150x150.jpg\"},\"medium\":{\"file\":\"shutterstock_517242967-300x200.jpg\",\"width\":300,\"height\":200,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967-300x200.jpg\"},\"medium_large\":{\"file\":\"shutterstock_517242967-768x512.jpg\",\"width\":768,\"height\":512,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967-768x512.jpg\"},\"post-thumbnail\":{\"file\":\"shutterstock_517242967-672x372.jpg\",\"width\":672,\"height\":372,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967-672x372.jpg\"},\"thegem-post-thumb\":{\"file\":\"shutterstock_517242967-256x256.jpg\",\"width\":256,\"height\":256,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967-256x256.jpg\"},\"thegem-custom-product-categories\":{\"file\":\"shutterstock_517242967-766x667.jpg\",\"width\":766,\"height\":667,\"mime-type\":\"image/jpeg\",\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967-766x667.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":24924,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2019/05/shutterstock_517242967.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFintech startup Early Salary\u0026#039;s Click Moment: Credit should be available with a tap on your phone - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fintech-startup-early-salarys-click-moment-credit-should-be-available-with-a-tap-on-your-phone/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fintech startup Early Salary\u0026#039;s Click Moment: Credit should be available with a tap on your phone - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"EarlySalary provides short-term financial assistance at a low interest rate to salaried professionals.\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/fintech-startup-early-salarys-click-moment-credit-should-be-available-with-a-tap-on-your-phone/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2019-07-24T11:44:40+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2019/05/shutterstock_517242967.jpg?time=1710750578\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"1000\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"667\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"2 minutes\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"Fintech startup Early Salary's Click Moment: Credit should be available with a tap on your phone - 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Names and mobile phone numbers, provided by potential customers to the EarlySalary website, was compromised.\u003cbr /\u003e\\nEarlySalary takes this breach very seriously. The vulnerability has been fixed and law enforcement has been informed. We would like to reassure all potential and existing customers that all corrective measures have now been taken to protect customer security.\u003cbr /\u003e\\nThe core customer database, including all existing EarlySalary customer information including sensitive personal details and transactions has remained completely secure and was not impacted.\u003cbr /\u003e\\nIn response to the breach, additional security has been added in apache to block threats. The database credentials have been changed, and additional security blocks have been placed on the EarlySalary website. We are working with law enforcement to identify the IP source for this incident. We will further enhance security measures within our database and are working towards implementing PCIDSS certification to make the platform more secure. We will inform Pune Cyber Security Cell about this incident.\u003cbr /\u003e\\nWe are deeply sorry to anyone who may have been affected. People’s privacy and security is of utmost importance to EarlySalary. We understand the trust customers place in us and we take this breach extremely seriously.\u003cbr /\u003e\\nIf you think you may have been impacted by this breach please remain vigilant to any suspicious calls or behaviour. If you need more information, please contact care@earlysalary.com and we’ll respond right away.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003ePune, 3rd October: On 2 October 2018, EarlySalary identified a security breach on its website. Names and mobile phone numbers, provided by potential customers to the EarlySalary website, was compromised. 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Names and mobile phone numbers, provided by potential customers to the EarlySalary website, was compromised. EarlySalary takes this breach very seriously. The vulnerability has been fixed and law enforcement has been informed. We would like to reassure all potential and \u0026hellip; Continue reading \u0026quot;EarlySalary \u0026#8211; Important Security Update\u0026quot;\\\" /\u003e\\n\u003cmeta property=\\\"og:url\\\" content=\\\"https://altcont.fibe.in/news/earlysalary-important-security-update/\\\" /\u003e\\n\u003cmeta property=\\\"og:site_name\\\" content=\\\"India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"article:publisher\\\" content=\\\"https://www.facebook.com/EarlySalary/\\\" /\u003e\\n\u003cmeta property=\\\"article:modified_time\\\" content=\\\"2019-07-24T06:50:15+00:00\\\" /\u003e\\n\u003cmeta property=\\\"og:image\\\" content=\\\"https://p1j17a.n3cdn1.secureserver.net/wp-content/uploads/2019/05/secure-instant-loans.jpg?time=1710750578\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:width\\\" content=\\\"960\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:height\\\" content=\\\"576\\\" /\u003e\\n\\t\u003cmeta property=\\\"og:image:type\\\" content=\\\"image/jpeg\\\" /\u003e\\n\u003cmeta name=\\\"twitter:card\\\" content=\\\"summary_large_image\\\" /\u003e\\n\u003cmeta name=\\\"twitter:label1\\\" content=\\\"Est. reading time\\\" /\u003e\\n\\t\u003cmeta name=\\\"twitter:data1\\\" content=\\\"1 minute\\\" /\u003e\\n\u003c!-- / Yoast SEO plugin. --\u003e\",\"yoast_head_json\":{\"title\":\"EarlySalary - Important Security Update - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"robots\":{\"index\":\"index\",\"follow\":\"follow\",\"max-snippet\":\"max-snippet:-1\",\"max-image-preview\":\"max-image-preview:large\",\"max-video-preview\":\"max-video-preview:-1\"},\"canonical\":\"https://altcont.fibe.in/news/earlysalary-important-security-update/\",\"og_locale\":\"en_US\",\"og_type\":\"article\",\"og_title\":\"EarlySalary - Important Security Update - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\",\"og_description\":\"Pune, 3rd October: On 2 October 2018, EarlySalary identified a security breach on its website. 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Thanks to its upgraded infrastructure, Fibe is ready to enhance the experience of users in need of credit on the ONDC Network.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eYoung salaried professionals and other consumers can now avail of hassle-free loans ranging from ₹20,000 to ₹5 lakhs on this network. By expanding credit services to the country’s underserved regions vis ONDC, Fibe intends to support the dreams and aspirations of potential borrowers.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith an efficient digital application process, consumers can now get access to a loan in just 6-7 minutes. This way, consumers can eliminate traditionally time-consuming processes and avoid cumbersome paperwork.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eJoining ONDC To Drive Financial Inclusion\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eONDC, or the Open Network for Digital Commerce, is a Government of India initiative aimed at enhancing online shopping. Fibe’s decision to onboard with it is in recognition of its user-friendly platform, which creates a more transparent, convenient, and innovative digital commerce experience.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eCheck out some of its attractive features and benefits:\u003c/h2\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eEnhanced Choices\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC brings together a wide array of e-commerce sellers, offering a diverse range of products and services. This increased competition often leads to better pricing, providing consumers with a plethora of options and exciting deals to explore.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eGovernment-backed Initiative\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eSupported by the Department for Promotion of Industry and Internal Trade (DPIIT) of the Government of India, ONDC offers safety and transparency. This backing ensures the platform\u0026#8217;s legitimacy and compliance with government regulations.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eCompetitive Prices\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC consistently offers lower prices compared to other apps. This affordability is a boon for budget-conscious users, helping them save on their orders. Consumers can also benefit from special promotions and discounts on select products and services from various brands.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eCustomer Support\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC provides dedicated customer support through the app, assisting users with payment issues, order tracking, or general inquiries. This ensures a smooth and reliable shopping experience.\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSupport for Small Businesses\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eONDC supports small businesses and local vendors by providing them with a platform to expand their customer base. In addition, it allows users to find special products and services not typically available on mainstream e-commerce sites.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe recent launch of financial services on the ONDC Network includes limited categories, such as insurance, personal loans and GST data-powered MSME Seller Financing. Since its aim is to democratise financial services in India, Fibe made strides to join the network to offer fast and easy access to funds.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe’s mission is to simplify the borrowing experience and empower consumers across India to benefit from faster processing times and quicker digital applications.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eAkshay Mehrotra, co-founder \u0026amp; CEO of Fibe, said, “We remain dedicated to empowering the youth, especially the salaried class, in their journey to fulfilling their aspirations. This initiative aligns well with our mission. Together with ONDC Network, we will continue to foster an ecosystem wherein every person has the necessary tools and support to thrive financially, thereby deepening our impact across the country.”\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eWith ONDC, Fibe’s loan application process will be even more streamlined and transparent, allowing consumers to secure loans safely and conveniently.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eFibe has earned the distinct recognition to be one of the first fintechs to be onboarded in the financial services-credit category of Open Network for Digital Commerce (ONDC). Thanks to its upgraded infrastructure, Fibe is ready to enhance the experience of users in need of credit on the ONDC Network.\u0026nbsp; Young salaried professionals and other \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-now-offers-easy-access-to-credit-on-the-ondc-network/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe Now Offers Easy Access To Credit On The ONDC Network\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":45006,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-45005\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":45006,\"alt_text\":\"Credit On The ONDC Network\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/09/News-blog.jpg\",\"filesize\":276343,\"sizes\":{\"medium\":{\"file\":\"News-blog-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":7403,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-300x150.jpg\"},\"large\":{\"file\":\"News-blog-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":40957,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-1024x512.jpg\"},\"thumbnail\":{\"file\":\"News-blog-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":4544,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-150x150.jpg\"},\"medium_large\":{\"file\":\"News-blog-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":27247,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-768x384.jpg\"},\"1536x1536\":{\"file\":\"News-blog-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":71691,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"News-blog-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":73631,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"News-blog-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":35082,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"News-blog-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":2369,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"News-blog-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":2864,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":45005,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/09/News-blog.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe Now Offers Easy Access To Credit On The ONDC Network - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-now-offers-easy-access-to-credit-on-the-ondc-network/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe Now Offers Easy Access To Credit On The ONDC Network - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"Fibe has earned the distinct recognition to be one of the first fintechs to be onboarded in the financial services-credit category of Open Network for Digital Commerce (ONDC). 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Visit Now.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://altcont.fibe.in/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}},\"yoast_meta\":{\"yoast_wpseo_title\":\"\",\"yoast_wpseo_metadesc\":\"\",\"yoast_wpseo_canonical\":\"\"},\"_links\":{\"self\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/45005\",\"targetHints\":{\"allow\":[\"GET\"]}}],\"collection\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news\"}],\"about\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/types/news\"}],\"author\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/users/24\"}],\"replies\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/comments?post=45005\"}],\"version-history\":[{\"count\":3,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/45005/revisions\"}],\"predecessor-version\":[{\"id\":45065,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/45005/revisions/45065\"}],\"wp:featuredmedia\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media/45006\"}],\"wp:attachment\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media?parent=45005\"}],\"wp:term\":[{\"taxonomy\":\"post_tag\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/tags?post=45005\"},{\"taxonomy\":\"news-category\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news-category?post=45005\"}],\"curies\":[{\"name\":\"wp\",\"href\":\"https://api.w.org/{rel}\",\"templated\":true}]}},{\"id\":44217,\"date\":\"2024-08-08T17:30:33\",\"date_gmt\":\"2024-08-08T12:00:33\",\"guid\":{\"rendered\":\"https://altcont.fibe.in/?post_type=news\u0026#038;p=44217\"},\"modified\":\"2024-08-08T17:30:37\",\"modified_gmt\":\"2024-08-08T12:00:37\",\"slug\":\"rbi-monetary-policy-committee-meet\",\"status\":\"publish\",\"type\":\"news\",\"link\":\"https://altcont.fibe.in/news/rbi-monetary-policy-committee-meet/\",\"title\":{\"rendered\":\"Monetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50%\"},\"content\":{\"rendered\":\"\\n\u003cp\u003eThe Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. RBI Governor Shaktikanta Das announced the Monetary Policy decisions at the meeting.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eCiting a hike in headline inflation, the MPC decided to keep the repo rate unchanged at 6.50%. The committee has also decided to keep the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate at 6.25% and the bank rate at 6.75%. These decisions were taken based on the 4:2 majority.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eWithdrawal of the Accommodative Stance\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eGovernor Das announced that the MPC remains focused on the withdrawal of accommodation. The committee’s focus remains squarely on guiding inflation back to its 4% target while ensuring that economic growth continues on its positive trajectory.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eRecent inflation trends have prompted this cautious approach. After holding steady at 4.8% through April and May 2024, headline inflation increased to 5.1% in June. It was driven primarily by persistent food price pressures. Inflation, excluding food and fuel, has shown signs of moderation. Governor Das reiterated his confidence in domestic economic growth despite these inflationary concerns.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eGrowth and Inflation Outlook\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe Committee believes that the global economic landscape continues to exhibit a mixed picture. While manufacturing activity shows signs of slowing, the services sector remains resilient. Inflation is gradually declining in major economies, albeit at a slower pace.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eDomestically, economic activity remains robust. Key indicators include:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSteady progress in the monsoon, higher kharif sowing, and improving reservoir levels, which support agricultural output\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eAccelerated manufacturing activity and strong service sector performance, with the Purchasing Managers’ Index (PMI) for services remaining above 60 for seven consecutive months\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eRobust household consumption, buoyant fixed investment, and rising private corporate investment\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eFood prices remain a key concern on the inflation front, contributing significantly to the overall inflation rate. However, the ongoing monsoon and favourable sowing conditions are expected to bring some relief to food prices.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eBased on these assessments, real GDP growth for the current fiscal year is projected at 7.2%, with a slight downward revision for the first quarter. Inflation is projected to be at 4.5% for the year, with risks evenly balanced.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eRobust Growth in the External Sector\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe MPC noted that India\u0026#8217;s current account deficit (CAD) has improved significantly, primarily due to a narrower trade deficit and robust services exports. While the trade deficit widened slightly in the first quarter of the current fiscal year, the overall CAD is expected to remain manageable.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe external financing landscape has shown encouraging signs. Foreign portfolio investors (FPIs) turned net buyers in June 2024, with net inflows of $9.7 billion between June and early August.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eForeign direct investment (FDI) also saw a notable increase, with gross FDI rising by over 20% during April-May 2024 and net FDI flows doubling compared to the same period last year. India’s foreign exchange reserves reached a historic high of $675 billion as of August 2, 2024.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003e\u003cstrong\u003eOther Advisory and Regulatory Measures\u003c/strong\u003e\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe MPC has highlighted several key areas requiring attention from banks and financial institutions. The central bank has observed some concerning trends in home equity loans, commonly known as top-up housing loans.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eSome banks and NBFCs are not strictly adhering to regulations governing loan-to-value (LTV) ratios, risk weights, and fund utilisation. RBI believes this laxity can divert loan funds into unproductive or speculative activities. The committee has advised banks and NBFCs to review their practices and take corrective measures to address this issue.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eIn a bid to curb the menace of unauthorised digital lending apps, RBI is also set to create a public repository of all digital lending apps deployed by regulated entities. This move is the latest in a series of measures to foster a safe and orderly digital lending ecosystem in India.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe repository will contain detailed information about digital lending apps operated by RBI-regulated entities. This will allow consumers to identify unauthorised platforms easily. These announcements reflect the Reserve Bank\u0026#8217;s commitment to maintaining financial stability and protecting the interests of borrowers and lenders alike.\u0026nbsp;\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eThe Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. RBI Governor Shaktikanta Das announced the Monetary Policy decisions at the meeting.\u0026nbsp;\u0026nbsp; Citing a hike in headline inflation, the MPC decided to keep the repo rate unchanged at 6.50%. The committee \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/rbi-monetary-policy-committee-meet/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Monetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50%\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":32,\"featured_media\":44218,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-44217\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":44218,\"alt_text\":\"News 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2000,\"height\":1000,\"file\":\"2024/08/5-19.jpg\",\"filesize\":119668,\"sizes\":{\"medium\":{\"file\":\"5-19-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":3132,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-300x150.jpg\"},\"large\":{\"file\":\"5-19-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":19158,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-1024x512.jpg\"},\"thumbnail\":{\"file\":\"5-19-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":2395,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-150x150.jpg\"},\"medium_large\":{\"file\":\"5-19-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":12258,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-768x384.jpg\"},\"1536x1536\":{\"file\":\"5-19-1536x768.jpg\",\"width\":1536,\"height\":768,\"mime-type\":\"image/jpeg\",\"filesize\":34828,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-1536x768.jpg\"},\"post-thumbnail\":{\"file\":\"5-19-1568x784.jpg\",\"width\":1568,\"height\":784,\"mime-type\":\"image/jpeg\",\"filesize\":36036,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-1568x784.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"5-19-640x853.jpg\",\"width\":640,\"height\":853,\"mime-type\":\"image/jpeg\",\"filesize\":27039,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-640x853.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"5-19-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":1319,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"5-19-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":1239,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":44217,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/08/5-19.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eMonetary Policy Committee Meet: RBI Keeps Repo Rate Unchanged at 6.50% - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"description\\\" content=\\\"The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held its 50th policy meeting from August 6 to August 8, 2024. 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One solution for all life’s big and small upgrades. Visit Now.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://altcont.fibe.in/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}},\"yoast_meta\":{\"yoast_wpseo_title\":\"\",\"yoast_wpseo_metadesc\":\"\",\"yoast_wpseo_canonical\":\"\"},\"_links\":{\"self\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/44217\",\"targetHints\":{\"allow\":[\"GET\"]}}],\"collection\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news\"}],\"about\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/types/news\"}],\"author\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/users/32\"}],\"replies\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/comments?post=44217\"}],\"version-history\":[{\"count\":1,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/44217/revisions\"}],\"predecessor-version\":[{\"id\":44219,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news/44217/revisions/44219\"}],\"wp:featuredmedia\":[{\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media/44218\"}],\"wp:attachment\":[{\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/media?parent=44217\"}],\"wp:term\":[{\"taxonomy\":\"post_tag\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/tags?post=44217\"},{\"taxonomy\":\"news-category\",\"embeddable\":true,\"href\":\"https://altcont.fibe.in/wp-json/wp/v2/news-category?post=44217\"}],\"curies\":[{\"name\":\"wp\",\"href\":\"https://api.w.org/{rel}\",\"templated\":true}]}},{\"id\":43807,\"date\":\"2024-07-24T16:46:22\",\"date_gmt\":\"2024-07-24T11:16:22\",\"guid\":{\"rendered\":\"https://altcont.fibe.in/?post_type=news\u0026#038;p=43807\"},\"modified\":\"2024-07-24T16:55:05\",\"modified_gmt\":\"2024-07-24T11:25:05\",\"slug\":\"budget-2024-deduction-on-home-loan-interest-payments-expected-to-return\",\"status\":\"publish\",\"type\":\"news\",\"link\":\"https://altcont.fibe.in/news/budget-2024-deduction-on-home-loan-interest-payments-expected-to-return/\",\"title\":{\"rendered\":\"Budget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now\"},\"content\":{\"rendered\":\"\\n\u003cp\u003eAccording to the Budget 2024 live updates, there have been significant announcements that will affect your tax liabilities. For the upcoming Budget Session of the Parliament, taxpayers were expecting the deduction on home loan interest payments to be back. Such an announcement would complement the government’s initiative of providing ‘Affordable Housing for All.’\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo know more about the provisions announced in the Budget 2024 for home loans, read on.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eHighlights of Budget 2024 About Home Loan Interest Deduction\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe return of home loan interest deduction in Budget 2024 would have been positive news. However, the Finance Minister did not propose any changes in this respect. That said, the following were the key points announced in Budget 2024 with regards to urban housing:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eAn investment of ₹10 lakh crore to address the housing needs of 1 crore urban poor and middle-class families under the PM Awas Yojana Urban 2.0\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe above includes central assistance of ₹2.2 lakh crore in the coming 5 years\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThere is a possibility of interest subsidy to offer loans at affordable rates\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003ePolicies and regulations for efficient and transparent rental housing will be put in place\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eThe Start of the Special Relief on Home Loan Interest\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eIn the 2016 Budget, for home loan interest payment deductions, it inserted Section 80EE to the Income Tax Act of 1961. The benefits under this section are over and above the benefits u/s 24. Check out the provisions of 80EE below:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThese deductions are applicable for a home loan sanctioned between April 1, 2016 and March 31, 2017\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThe benefit under this section is limited to interest paid up to ₹50,000\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIt laid down a condition wherein the loan sanctioned for residential property should not exceed ₹35 lakhs\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThis deduction is available with the deduction under Section 24\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eYou can claim these deductions till you repay the loan in its entirety \u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eIncrease in the Special Relief on Home Loan Interest\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eThe government extended the deductions available for homebuyers through the 2019 Budget for home loan interest payments provision. Section 80EEA was inserted for the same. The following are the provisions of this section-\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThese deductions are limited to interest paid up to ₹1.5 lakhs in a financial year\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThese benefits are only available for first-time buyers of residential property\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eThese deductions are applicable for loans sanctioned between April 1, 2019 and March 31, 2020\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSubsequently, the Government extended the last date from March 31, 2020 to March 31, 2022 in the Finance Act of 2021\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eThis section did not lay any limit on the amount of loan sanctioned by the financial institution to be eligible for this benefit\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eTo be eligible for these deductions, the stamp duty value of such property should not exceed ₹45 lakhs\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eYou can’t claim tax benefits under this section if you are claiming the benefits of 80EE\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eWhen getting a home, the initial down payment and other expenses can still pose a hurdle despite the reliefs announced in the Budget 2024. To bridge this gap and make your dream home a reality, you can get an \u003ca href=\\\"https://www.fibe.in/personal-loan/\\\"\u003eInstant Personal Loan\u003c/a\u003e\u0026nbsp;of up to ₹5 lakhs from Fibe.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThrough a quick and hassle-free application process, you can access the funds you need without delays and with minimal paperwork. Download our\u0026nbsp;\u003ca href=\\\"https://www.fibe.in/personal-loan-app/\\\"\u003ePersonal Loan App\u003c/a\u003e\u0026nbsp;or apply directly via our website.\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eFAQs on Budget 2024 Updates About Deductions on Home Loan Interest \u003c/h2\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eWhat were the expectations from Budget 2024?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eThe Union Government has presented its first Budget of this term. As per the 2024 Budget updates, given below were some of the expectations of taxpayers:\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eHigher allocation towards the healthcare and education sectors\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSingle-window clearance for real estate projects to avoid delays\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eReturn of deductions on home loan interest payments\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eIncentive schemes to promote IT services\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eLower corporate tax rates \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSimplified labour laws to reduce compliance costs of the manufacturing sector\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eWhat is the maximum deduction for home loan interest?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eYou can claim a deduction of up to ₹2 lakhs per financial year on interest payments of housing loans u/s 24. Any additional interest can be claimed as a deduction u/s 80EE or 80EEA, which have a limit of ₹50,000 and ₹1.5 lakhs respectively.\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eCan we claim both 80EE and 80EEA?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eNo, you cannot enjoy tax benefits available under Sections 80EE and 80EEA simultaneously.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\\n\\n\\n\\n\u003ch3 class=\\\"wp-block-heading\\\"\u003eWhat is the difference between Sections 24(b) and 80EEA?\u003c/h3\u003e\\n\\n\\n\\n\u003cp\u003eCheck out the distinguishing provisions of these two sections-\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSection 24(b) allows you to enjoy deductions of up to ₹2 lakhs on interest payments of home loans for self-occupied properties. There is no limit for let-out properties. \u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eSection 80EEA enables you to claim an additional deduction of up to ₹1.5 lakhs on home loan interest payments, provided you don’t claim a deduction u/s 80EE.\u003c/li\u003e\\n\u003c/ul\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eAccording to the Budget 2024 live updates, there have been significant announcements that will affect your tax liabilities. For the upcoming Budget Session of the Parliament, taxpayers were expecting the deduction on home loan interest payments to be back. Such an announcement would complement the government’s initiative of providing ‘Affordable Housing for All.’\u0026nbsp; To know \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/budget-2024-deduction-on-home-loan-interest-payments-expected-to-return/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Budget 2024 Live Updates: Is Home Loan Interest Deduction Back? Know now\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":33899,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43807\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":33899,\"alt_text\":\"Union budget 2024 sectors\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":2560,\"height\":1707,\"file\":\"2023/05/Personal-Loan-foreclosure-charges.png\",\"filesize\":360856,\"sizes\":{\"medium\":{\"file\":\"Personal-Loan-foreclosure-charges-300x200.png\",\"width\":300,\"height\":200,\"mime-type\":\"image/png\",\"filesize\":46773,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-300x200.png\"},\"large\":{\"file\":\"Personal-Loan-foreclosure-charges-1024x683.png\",\"width\":1024,\"height\":683,\"mime-type\":\"image/png\",\"filesize\":298712,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-1024x683.png\"},\"thumbnail\":{\"file\":\"Personal-Loan-foreclosure-charges-150x150.png\",\"width\":150,\"height\":150,\"mime-type\":\"image/png\",\"filesize\":27004,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-150x150.png\"},\"medium_large\":{\"file\":\"Personal-Loan-foreclosure-charges-768x512.png\",\"width\":768,\"height\":512,\"mime-type\":\"image/png\",\"filesize\":200227,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-768x512.png\"},\"1536x1536\":{\"file\":\"Personal-Loan-foreclosure-charges-1536x1024.png\",\"width\":1536,\"height\":1024,\"mime-type\":\"image/png\",\"filesize\":733041,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-1536x1024.png\"},\"2048x2048\":{\"file\":\"Personal-Loan-foreclosure-charges-2048x1366.png\",\"width\":2048,\"height\":1366,\"mime-type\":\"image/png\",\"filesize\":1216776,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-2048x1366.png\"},\"post-thumbnail\":{\"file\":\"Personal-Loan-foreclosure-charges-1568x1046.png\",\"width\":1568,\"height\":1046,\"mime-type\":\"image/png\",\"filesize\":1085186,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges-1568x1046.png\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":null,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2023/05/Personal-Loan-foreclosure-charges.png\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eBudget 2024 Live Updates: Is Home Loan Interest Deduction Back? 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The ‘12\u003csup\u003eth\u003c/sup\u003e Fail’ fame actor will now be part of the company’s advertisement and marketing campaigns.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eOnboarding Massey, known for his relatable charm, underscores Fibe’s commitment to connecting with the millennial and Gen Z demographic.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eNo More ‘Agli Baar’ Campaign\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eSudhir Shetty, Founder \u0026amp; Director at VeryBusyPeople Film Production House said, “The inspiration for this campaign came from the stories of everyday life of the youth who have many dreams and aspirations but avoid making smallest of purchases and push it to ‘Agli Baar’ because of financial constraints. Through the ‘NoMoreAgliBaar’ campaign, we want to inspire them to seize the opportunities with the support of Fibe’s financial solutions. Leveraging Massey’s relatable appeal with the youth, we aim to create a powerful connection with Gen Z and millennials while enabling them with easily accessible financial solutions,”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eTo reflect this, the campaign will present Massey as the protagonist and narrator (Sutradhar) guiding young Indians to break free from the practice of postponing dreams. Through it, Massey will showcase Fibe’s user-friendly application and highlight the ease with which customers can access credit to achieve all goals and aspirations. It will outline how Fibe empowers individuals by providing accessible financial solutions for all needs.\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eMassey as the Perfect Fit\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eSudesh Shetty, Founding Member and EVP – Marketing said, “We are thrilled to welcome Vikrant Massey to the Fibe family. Vikrant\u0026#8217;s relatable and authentic persona makes him the perfect fit to represent the brand Fibe. Fibe has remained committed to upgrading the lifestyle of the salaried class while ensuring to encourage responsible buying behaviour. Vikrant’s connect with the younger generation will significantly boost our efforts in engaging with the audiences and empower them with the Fibe app through which they can avail our offerings in an easy manner.”\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eMassey himself echoed this sentiment and said, “I am delighted to collaborate with Fibe in its mission of helping people fulfil their dreams with confidence and ease. The brand not only helps underserved individuals avail financial services but also empowers them with financial independence.”\u003c/p\u003e\\n\\n\\n\\n\u003ch2 class=\\\"wp-block-heading\\\"\u003eBuilding a Financial Ecosystem for Young India\u003c/h2\u003e\\n\\n\\n\\n\u003cp\u003eFibe has also announced the integrated launch of this initiative. The brand will prominently feature it across digital and social media platforms to ensure widespread visibility and engagement.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eThe company\u0026#8217;s commitment extends far beyond traditional loans, offering a diverse range of ‘Impact Loans’ designed to empower young India. This includes financing for education (EdTech loans), healthcare needs, and even insurance premiums. The company has established a comprehensive financial ecosystem with an array of products to simplify personal finances.\u003c/p\u003e\\n\\n\\n\\n\u003cp\u003eFibe\u0026#8217;s innovative approach makes it a reality for youth to sign up for online courses for career growth or get medical treatment via:\u003c/p\u003e\\n\\n\\n\\n\u003cul class=\\\"wp-block-list\\\"\u003e\\n\u003cli\u003eSalary Advances\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003ePersonal Loans\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eInstant Cash Options\u003c/li\u003e\\n\\n\\n\\n\u003cli\u003eBuy Now Pay Later facilities across health and education\u003c/li\u003e\\n\u003c/ul\u003e\\n\\n\\n\\n\u003cp\u003eFibe\u0026#8217;s recent success further bolsters this commitment to financial inclusion. The company recently secured a US$90 million in Series E funding, a testament to its dedication to transforming the lives of young Indians.\u003c/p\u003e\\n\",\"protected\":false},\"excerpt\":{\"rendered\":\"\u003cp\u003eIn a strategic move to boost its reach among India’s youth, Fibe has named renowned Bollywood actor Vikrant Massey as its brand ambassador. The ‘12th Fail’ fame actor will now be part of the company’s advertisement and marketing campaigns. Onboarding Massey, known for his relatable charm, underscores Fibe’s commitment to connecting with the millennial and \u0026hellip; \u003c/p\u003e\\n\u003cp class=\\\"link-more\\\"\u003e\u003ca href=\\\"https://altcont.fibe.in/news/fibe-ropes-in-12th-fail-actor-vikrant-massey-as-its-brand-ambassador/\\\" class=\\\"more-link\\\"\u003eContinue reading\u003cspan class=\\\"screen-reader-text\\\"\u003e \u0026#8220;Fibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador\u0026#8221;\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\",\"protected\":false},\"author\":24,\"featured_media\":43653,\"menu_order\":0,\"comment_status\":\"closed\",\"ping_status\":\"open\",\"template\":\"\",\"format\":\"standard\",\"meta\":{\"_acf_changed\":false,\"_monsterinsights_skip_tracking\":false,\"_monsterinsights_sitenote_active\":false,\"_monsterinsights_sitenote_note\":\"\",\"_monsterinsights_sitenote_category\":0,\"footnotes\":\"\"},\"tags\":[],\"news-category\":[483],\"class_list\":[\"post-43568\",\"news\",\"type-news\",\"status-publish\",\"format-standard\",\"has-post-thumbnail\",\"hentry\",\"news-category-news-2024\",\"entry\"],\"better_featured_image\":{\"id\":43653,\"alt_text\":\"News 2024\",\"caption\":\"\",\"description\":\"\",\"media_type\":\"image\",\"media_details\":{\"width\":1201,\"height\":601,\"file\":\"2024/07/Vikrant-blog-banner-copy-100-1.jpg\",\"filesize\":364742,\"sizes\":{\"medium\":{\"file\":\"Vikrant-blog-banner-copy-100-1-300x150.jpg\",\"width\":300,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":36802,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-300x150.jpg\"},\"large\":{\"file\":\"Vikrant-blog-banner-copy-100-1-1024x512.jpg\",\"width\":1024,\"height\":512,\"mime-type\":\"image/jpeg\",\"filesize\":84215,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-1024x512.jpg\"},\"thumbnail\":{\"file\":\"Vikrant-blog-banner-copy-100-1-150x150.jpg\",\"width\":150,\"height\":150,\"mime-type\":\"image/jpeg\",\"filesize\":34650,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-150x150.jpg\"},\"medium_large\":{\"file\":\"Vikrant-blog-banner-copy-100-1-768x384.jpg\",\"width\":768,\"height\":384,\"mime-type\":\"image/jpeg\",\"filesize\":62669,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-768x384.jpg\"},\"web-stories-poster-portrait\":{\"file\":\"Vikrant-blog-banner-copy-100-1-640x601.jpg\",\"width\":640,\"height\":601,\"mime-type\":\"image/jpeg\",\"filesize\":76541,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-640x601.jpg\"},\"web-stories-publisher-logo\":{\"file\":\"Vikrant-blog-banner-copy-100-1-96x96.jpg\",\"width\":96,\"height\":96,\"mime-type\":\"image/jpeg\",\"filesize\":32496,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-96x96.jpg\"},\"web-stories-thumbnail\":{\"file\":\"Vikrant-blog-banner-copy-100-1-150x75.jpg\",\"width\":150,\"height\":75,\"mime-type\":\"image/jpeg\",\"filesize\":32449,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1-150x75.jpg\"}},\"image_meta\":{\"aperture\":\"0\",\"credit\":\"\",\"camera\":\"\",\"caption\":\"\",\"created_timestamp\":\"0\",\"copyright\":\"\",\"focal_length\":\"0\",\"iso\":\"0\",\"shutter_speed\":\"0\",\"title\":\"\",\"orientation\":\"0\",\"keywords\":[]}},\"post\":43568,\"source_url\":\"https://altcont.fibe.in/wp-content/uploads/2024/07/Vikrant-blog-banner-copy-100-1.jpg\"},\"acf\":[],\"yoast_head\":\"\u003c!-- This site is optimized with the Yoast SEO plugin v24.0 - https://yoast.com/wordpress/plugins/seo/ --\u003e\\n\u003ctitle\u003eFibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\u003c/title\u003e\\n\u003cmeta name=\\\"robots\\\" content=\\\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\\\" /\u003e\\n\u003clink rel=\\\"canonical\\\" href=\\\"https://altcont.fibe.in/news/fibe-ropes-in-12th-fail-actor-vikrant-massey-as-its-brand-ambassador/\\\" /\u003e\\n\u003cmeta property=\\\"og:locale\\\" content=\\\"en_US\\\" /\u003e\\n\u003cmeta property=\\\"og:type\\\" content=\\\"article\\\" /\u003e\\n\u003cmeta property=\\\"og:title\\\" content=\\\"Fibe Ropes in ‘12th Fail’ Actor Vikrant Massey as Its Brand Ambassador - India\u0026#039;s Largest Lending Platform | Fibe (formerly EarlySalary\\\" /\u003e\\n\u003cmeta property=\\\"og:description\\\" content=\\\"In a strategic move to boost its reach among India’s youth, Fibe has named renowned Bollywood actor Vikrant Massey as its brand ambassador. 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