India’s $1 trillion digital loan market is the new battleground for Facebook and Xiaomi

Facebook this month said India would be the first country where it rolls out its small business loan program offering loans via a partner to firms that advertise on its platform. The loans will range from 500,000 rupees ($6,720) to 5 million rupees with interest rates of 17%-20%, potentially without collateral.

from Banking/Finance-Industry-Economic Times https://ift.tt/3BuwVmi