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Fintech Companies Basking in the Retail Lending Boom
April 14, 2017
With the impetus that the retail lending sector has experienced recently, not only traditional banks but also the fintech companies have been able to expand their credit portfolio and grow business considerably.
While banks are making their best efforts to rope in new customers with their line of credit products, the fintech companies such as NBFCs are growing much faster by reaching out to their customers on the online platforms. For instance, Manavjeet Singh, who is the founder of Rubique (an online marketplace for finance products that works with 61 financial institutions), said that they had done disbursals worth Rs. 250 crore in 2016 alone, and are doing 4 times more this year.
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