NeoGrowth has received coverage in Financial Express (online) in an industry story, titled, “How RBI’s latest move to allow NBFCs, PSOs for Aadhaar eKYC license will ease MSME lending process”.
The story by Sandeep Soni, Assistant Editor, Financial Express, talks about the impact of RBI’s recent announcement around eKYC license on MSME lenders, such as fastening the time taken to onboard borrowers and disburse credit to them, and gives a brief insight into the application requirements as stated by RBI.
Our CEO, Mr. Arun Nayyar, has been quoted in the story. He opines, “The borrowing experience is going to improve with this. There are multiple stages in the process of customer onboarding, verification of KYC, etc., as per the regulation. This is often time-consuming as the borrower provides copies of documents that are then verified and tested etc. So that manual process will get eliminated to a great extent. In that sense, it is beneficial. When the friction is removed, the customer appears a lot more interested in the offering. We are evaluating very seriously to get the license.”