Paving the way for migration of a large section of the population dependent on unofficial credit transactions into the formal sphere, the demonetisation move by the central government has boosted the prospects of online credit platforms.
The move has, especially, fostered a demand for micro lending platforms that specialise in quick loans of small ticket sizes.
The surge in demand for such services is best exemplified by the prodigious jump in demand seen by small firms like Slicepay, an online credit platform that caters exclusive to college students.
For more on this story visit the following link: Online Microcredit on the Rise
Source: The Indian Express