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Business Economy


i-lend.in signs pact with Cove Venture

i-lend.in signs pact with Cove Venture

Hyderabad, Nov 30 (UNI) City-based i-lend.in, one of the best performing company in the nascent Peer 2 Peer (P2P)/ Alternate Finance and UK-based Cove Venture entered into a strategic agreement. Under the strategic agreement, both firms will apply Artificial Intelligence, Deep and Machine Learning algorithms in the Indian Alternate Finance & P2P Lending industry to ensure more people in urban and rural India get access to credit at moderate interest. The Indian Alternate Finance and P2P Lending industry expected to grow over USD 20 Billion business in the next few years and the sector is experiencing rapid growth presently. The models will help improve the predictability by analyzing online, social and financial behaviour thereby enabling I-lend with significant accuracy. This predictability will help in pricing loans, opening up new segments and deliver better financial performance. Getting exclusive access to i-lend data helps Cove Ventures build cutting edge solutions across the fast growing finance eco-system in India. “This tie up will help building predictive, qualitative credit and e-KYC models along with our existing algorithms. It also enables us to better address financial inclusion in the urban space and bring a higher degree of transparency into loaning and lending operations and rationalise high interest rates being charged, i-lend Founder Shankar Vaddadyi told media here today. Cove Venture Founder and CEO Madhava Turumellae said “This partnership will improve our footprint in India and help us get excellent traction in the fast growing Indian financial space both from a conventional and new wave companies like I-lend. Exclusivity is critical because of the nature of the technologies and data involved and confident that these models will give a flip to the demonetization,” he added. UNI VV CS 1717

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ITRs e-filers in Andhra, Telangana low this time: N Sankaran

19 Aug 2019 | 9:34 PM

Hyderabad, Aug 19 (UNI) Telangana and Andhra Pradesh Principal Chief Commissioner of Income said here on Monday that the number of Income Tax Return (ITR) for this fiscal year has dropped in comparison to last year in the two Telugu states, adding that the department is hopeful to achieve its target by the end of August.

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ITI Mutual Fund launches 'ITI Arbitrage Fund'

ITI Mutual Fund launches 'ITI Arbitrage Fund'

19 Aug 2019 | 7:29 PM

Hyderabad, Aug 19 (UNI) ITI Mutual Fund on Monday announced the launching of ‘ITI Arbitrage Fund.

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GPL provides scholarships to selected students under CSR program

GPL provides scholarships to selected students under CSR program

19 Aug 2019 | 7:02 PM

Visakhapatnam, Aug 19 (UNI) As a part of its Corporate Social Responsibility (CSR) program, Gangavaram Port Limited (GPL) provided scholarships to selected students and distributed stationary at a meeting held here on Monday.

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ASSOCHAM, GCCI to organise half-day event on MSME to celebrate World Entrepreneur Day on Aug 21

ASSOCHAM, GCCI to organise half-day event on MSME to celebrate World Entrepreneur Day on Aug 21

19 Aug 2019 | 6:30 PM

Panaji, Aug 19 (UNI) ASSOCHAM in association with Goa Chamber of Commerce and Industries (GCCI) will celebrate World Entrepreneur Day by organising a half-day event on Micro, Small and Medium Enterprises (MSME) on August 21, 2019.

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Sensex rallies by 52 16 pts on hopes of revival package by Govt amidst firm Asian cues

Sensex rallies by 52 16 pts on hopes of revival package by Govt amidst firm Asian cues

19 Aug 2019 | 6:26 PM

Mumbai, Aug 19 (UNI) Rallying for the third straight session on Monday, t he benchmark index of Bombay Stock Exchange (BSE) increased by 52.16 points to close firm at 37,402.49 buoyed by hopes of a revival package from the government lifted investors' sentiment at D-Street amidst stronger cues from the Asian markets.

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