lenders

Peer-to-peer lending companies such as Liquiloans, Lendbox, and Faircent are putting the brakes on their instant withdrawal products. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ SC stay on fact-checking unit hailed■ Flipkart’s new payout policy■ Laptop import management to be reviewedP2P lending platforms to stop ‘liquid funds’ as RBI peers into business Peer-to-peer lending startups are bringing one of their most attractive products to a halt from March 31 — a fallout of the increased…

In a concerted attempt at self-regulation, a grouping of the country’s peer-to-peer (P2P) lending platforms has asked its members — including Liquiloans, Lendbox and Faircent — to stop offering instant withdrawal products to customers after March 31, people aware of the move said.Following the industry-level decision, Matrix Partners-backed Liquiloans has written to its business partners informing them it would pause the liquid scheme option for all new lenders.Elevate Your Tech Prowess with High-Value Skill…

Bfree, a tech-enabled debt collection startup based in Nigeria, was founded to automate and introduce ethical debt recovery processes after its founders witnessed the use and adverse effects of aggressive retrieval techniques, such as incessant calling and debt-shaming, by predatory digital lenders. After its launch in 2020, the startup introduced a number of scalable debt recovery methods including a self-service platform, which allows borrowers to set up new payment plans, and conversational AI tools (chatbots and…

Indian non-bank lenders are looking at options other than Paytm for loan disbursal, worried about the regulatory crisis engulfing the firm that has led to a temporary halt of lending services, sources with direct knowledge of the matter said.Paytm's banking unit on January 31 was hit by a central bank order to wind down its business due to persistent non-compliance with rules and a day later Paytm said it would not be originating loans for "maybe a couple of weeks" to resolve operational challenges.If Paytm's lending…

A group of US lenders has petitioned the bankruptcy court in India to initiate insolvency proceedings against Byju’s, exacerbating the challenges for a company which is desperately scouting for funds to keep operations running amid a slowdown in the edtech sector and regulatory scrutiny.The lenders have been in negotiation with the company over prepayment of a $1.2 billion term loan taken by its US subsidiary, Byju's Alpha, even as the two sides also continued to fight a legal battle in US courts.Elevate Your Tech Prowess…

People pass by a Wells Fargo bank on May 17, 2023 in New York City.Spencer Platt | Getty ImagesWells Fargo was snared in an industrywide probe into mortgage bankers' use of loan discounts last year, CNBC has learned.The discounts, known as pricing exceptions, are used by mortgage personnel to help secure deals in competitive markets. At Wells Fargo, for instance, bankers could request pricing exceptions that typically lowered a customer's APR by between 25 to 75 basis points.The practice, used for decades across the home…

If a swallow does make a summer, maybe Byju’s is going to be in the (Barbie) pink of health or back in the (Oppenheimer) black, some day. For the embattled edtech major may have finally caught a break after an endless series of woes. Its $1.2 billion term loan B lenders, with whom it's been at war in the courts and outside, may be softening their stance and agreeing to rework the debt terms. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Startups to get export promotion sops■ Tech industry against…

Troubled edtech major Byju’s has reached a tentative agreement to rework its loan pact with lenders who collectively own more than 85% of the $1.2 billion Term B loan, people aware of the matter told ET. An announcement in this regard is expected early Monday.A Term Loan B (TLB) typically is aimed at generating long-term returns on investment through interest payment to investors while the borrower will get time to pay the principal amount only at the end of the tenure.The sources cited said that according to the new…

In a bid to protect consumers and maintain a regulated financial ecosystem, the Federal Competition & Consumer Protection Commission of Nigeria (FCCP) on Thursday delisted two digital money lenders (DMLs). The commission, acting on behalf of the Joint Regulatory and Enforcement Task Force (JRETF), took decisive actions against the two companies for their alleged involvement in fraudulent practices. According to a statement by the commission’s boss, Babatunde Irukera, the two companies are Sycamore Integrated…

The deal unties his personal loans from the trading price of his company’s shares, increase his collateral and set up a plan to fully repay the loans in three years.  The deal unties his personal loans from the trading price of his company’s shares, increase his collateral and set up a plan to fully repay the loans in three years.  FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to…