Muthoot FinCorp ONE offers loans to small Indian businesses based on QR-code transactions, aiding access to credit.

Muthoot FinCorp ONE, a digital platform, is offering loans up to Rs 5 lakh to small Indian businesses based on their daily QR-code transactions. This follows the Indian government's new model requiring banks to assess businesses using digital footprints instead of balance sheets. The initiative aims to improve financial access for small businesses, many of which face credit shortages despite strong cash flows.

December 02, 2024
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