Happy Wednesday! After the central bank s action on IIFL Finance, concerns have been raised over gold loan evaluation by fintechs and their partner banks. This and more in todays ETtech Morning Dispatch.
Peer-to-peer (P2P) lending platforms have decided to halt one of their most attractive products from March 31 following increased regulatory scrutiny by the Reserve Bank of India, we reported on March 22.
Goldman Sachs is likely to convert some of its loan to online pharmacy PharmEasy into equity. Buoyed by binding commitments from existing investors, the epharnacy also plans to pay back a considerable chunk of its debt following the rights issue in September. This and more in todays ETtech Morning Dispatch.
Analysis by peer-to-peer lending platform LenDenClub shows that 59 percent of lenders and a whopping 87 percent of borrowers are under 40 years of age.