Indian fintech lenders grab turf from China as Google begins app clean-up
Fintech players further claimed that out of the new applications received in the last two months, nearly 40-45% were from customers that had earlier dealt with China-backed lenders.
Synopsis
Most domestic fintech lenders that ET spoke with said that their business rose 20-40% month-on-month since December, when the crackdown started. Recently, Google pulled the plug on more than 500 instant-credit apps that had their roots in China and were not compliant with the central bank norms.
With Google removing nearly 500 China-backed fintech apps from its play store, home grown small lenders have seen a significant rise in loan disbursals. Most domestic fintech lenders that ET spoke to said that their business rose 20-40% month-on-month since December, when the crackdown started.
2021 Labor and Employment Spotlight: A List of Key Legal Updates for Employers, January 13, 2021, Nichole Atallah, Sara Nasseri, and Sarah Nash
Undeniably, 2020 was a year like no other. Faced with a global pandemic and a tumultuous election, employers were presented with a unique set of challenges and a myriad of new and at times, very vague laws and regulations. Despite the start of a new year and a new administration in just a week, much of 2020 still lingers on, including some of its novel policies. However, the new year and new administration also signal a shift in direction for labor and employment law, and employers should be prepared.
Paycheck Protection Program opens to all lenders on January 19
In order to be approved applicants must fall under certain categories.
Posted: Jan 18, 2021 7:14 PM
Updated: Jan 19, 2021 10:17 AM
Posted By: Tyler Ridgle
MEDFORD, Ore. SBA is re-opening the Paycheck Protection Program to all lenders on Tuesday. The president and CEO of Medford s Chamber of Commerce, Brad Hicks, says not much has changed since the first round of PPP was made available, but people should be aware of a few changes.
In order to be approved applicants must fall under the categories of a small business with 500 or fewer employees, a sole proprietor, independent contractor, or self-employed and some nonprofits.