Are loan apps and NBFCs fuelling losses for F&O traders?

Quick Summary:

India’s most vulnerable F&O traders—under-30, earning less than 5LPA—may be caught in an endless cycle of borrowing from instant loan apps that are ready to lend irrespective of their creditworthiness, or the lack of it.

Or as a stock market veteran puts it: “Only the rich professionals are making money, while the poor people are in losses.

For DMI Finance, which is in the same boat as Navi, the share of unsecured digital retail lending stood at 84% of its Rs 14,550-crore loan book in FY24.

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Article Details

Author / Journalist: Sohini Mitter

Category: StartupsEconomyBusiness

Markets: India

Topics: Loans Nbfcs Apps Privacy India’s Losses Loan Policy Traders Being

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 06:59:58 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 503 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23567184

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About YourStory

Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 18 posts per day

Year Established: 2008

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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