The Economic Times daily newspaper is available online now.

    Paisadukan opens physical branch in Madhubani to expand scope of P2P lending

    Synopsis

    Having started operations in 2017, Paisadukan got a certificate of registration from the RBI to commence operations in July 2018.

    GettyImages-879809148Getty Images
    Rajiv M Ranjan, MD, Paisadukan said that through this initiative he would try to increase credit awareness and expand the scope of operations for regulated P2P lending industry.
    BENGALURU: In a first move of its kind, peer to peer lending startup Paisadukan has opened a rural branch office in Madhubani, Bihar to promote the idea of P2P lending in rural India. While the platform is based out of Mumbai, the company will use its office in Bihar to try and drive financial inclusion in rural India through the P2P format.

    “We will use this infrastructure to drive last mile credit facility and this will be a pilot programme as of now, the centre will be used for EMI collection, document processing and collection among others,” said Rajiv M Ranjan, managing director at Paisadukan.

    Ranjan told ET that he intends to break the unregulated local lending market through this initiative and attempt to bring the last mile within the regulated lending business of the Reserve Bank.

    Ranjan said that through this initiative he would try to increase credit awareness and expand the scope of operations for regulated P2P lending industry.
    Having started operations in 2017, Paisadukan got a certificate of registration from the RBI to commence operations in July 2018.
    SIDBI MSME Conclave 2024 |Register Now.
    ...more
    SIDBI MSME Conclave 2024 |Register Now.
    ...more
    The Economic Times

    Stories you might be interested in