MSME financing

E-lending firms recommend direct debit feature on UPI to help startups

The digital lending industry has suggested that the RBI allow direct debit for loan repayment through the instant inter-bank funds transfer mechanism Unified Payments Interface (UPI), extend the ‘Udaan’ scheme to fintechs and nonbanking finance companies and make bank funding mandatory for early-stage fintechs. The central bank, in its notification dated March 18, had sought […]