Tuesday, Mar 19 2024 | Time 12:56 Hrs(IST)
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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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Sensex down over 500 points

Sensex down over 500 points

19 Mar 2024 | 12:15 PM

Mumbai, Mar 19 (UNI) The BSE Sensex on Tuesday tumbled down 538 points to 72,208 in the opening session as selling was seen across the board.

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ARS Group unveils first of its kind TMT bar for retail segment

19 Mar 2024 | 10:43 AM

(RPTING WITH CORRECT DATE)
Chennai, Mar 19 (UNI) ARS Group, India's leading TMT Bar manufacturers headquartered in Chennai, on Tuesday launched their new TMT bar for the retail segment -- ARS CRS 550D.

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Ashok Leyland, Minus Zero announce pact to revolutionize Autonomous Trucking

19 Mar 2024 | 10:41 AM

Chennai, Mar 19 (UNI) Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer on Tuesday announced a strategic alliance with Minus Zero, India's leading autonomous driving technology startup.

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ARS Group unveils first of its kind TMT bar for retail segment

19 Mar 2024 | 10:38 AM

Chennai, Mar 18 (UNI) ARS Group, India's leading TMT Bar manufacturers headquartered in Chennai, on Tuesday launched their new TMT bar for the retail segment -- ARS CRS 550D.

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KSUM-incubating firm launches Oravco checkout solution for billing issues

18 Mar 2024 | 8:45 PM

Kochi, Mar 18 (UNI) IT solutions provider Oravco Pvt. Ltd. has launched a facility that helps shop-owners avoid possible difficulties at the billing counter by enabling customers themselves scan the product barcode and pay online.

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