According to the priority sector lending there ought to be a response while in the non-secure financial loan financing procedure it'll be acceptable for introducing fresh and improved services and products on the current market, as small signature loans are directly credited in the borrowers bank accounts, government needs to allow e KYC and Video KYC this is likely to produce the money-lending procedure simpler and faster. There ought to be no less Dividend Distribution Tax for Fin-Techs and NBFCs therefore, they are able to gather more capital for financing. There ought to be a distinct credit guarantee scheme strategy for fin-tech organizations in order to provide loans to the folks with greater ease. A new mechanism ought to be introduced to solving the issue of NPA, E-NACH process ought to be re-introduced.
(The writer is Founder & CEO, Loanwalle.com)
(Published 29 January 2020, 08:00 IST)
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