In India, Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the country’s economic growth, generating employment and contributing significantly to the GDP. However, accessing credit has often been a significant challenge for such enterprises, especially for startups and small-scale businesses. This is where responsible lending plays a transformative role. At LendingKart, responsible lending […]
In the lending industry, the difference between profitable growth and catastrophic losses often depends on one critical function: credit underwriting. Whether you’re a fintech startup evaluating digital loan applications or an established NBFC assessing business loan requests, understanding what is credit underwriting and implementing it determines your portfolio quality, default rates, and ultimately, your
Personal loans can fulfill your financial demands. It can get used for nearly anything, including emergency funding, debt consolidation, or making a sizable purchase. It has never been simpler to apply for a personal loan due to hassle-free online procedures and pre-approved offers provided by banks. Aside from having cheaper rates than credit cards,
A Permanent Account Number, or PAN as it is more generally called, is for both people and businesses. All taxpayers who reside in the nation, whether they are an individual, a partnership, or a business, must have a PAN. It also serves as identification verification. You need specific identifications and documents in order to
Digital India is no more a saying. It’s a real thing now. People use the internet to order their necessities, pay off their bills, plan vacations, and whatnot. Almost every industry is taking a step closer to digitization every while. So, why not the customer service? Although it has an e-KYC process, the innovation
Introduction eKYC abbreviation stands for Electronic Know Your Customer. It is a system used to identify and register users by gathering personal and professional information. It is an extension of the traditional KYC procedure. The main difference between the two is that eKYC can be processed online and is a much easier option for
