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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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Kotak Mahindra Bank launches festive offer in UP

16 Oct 2019 | 2:38 PM

Lucknow, Oct 16(UNI) To commemorate the festive season, Kotak Mahindra Group (Kotak) on Wednesday announced the launch of 'Kona Kona Khwaab Loan Utsav' in Uttar Pradesh with attractive rates and offers across their whole range of products in the consumer, agri and tractor loan segments.

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Saraswat Co-operative Bank launches 'Saraswat Bank 100+  Smart Savings Account App'

Saraswat Co-operative Bank launches 'Saraswat Bank 100+ Smart Savings Account App'

16 Oct 2019 | 2:20 PM

Mumbai, Oct 16 (UNI) Saraswat Bank has become the first bank in the Co-operative sector to launch an account opening app, Saraswat Bank 100+.

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MG Motor India partners with eChargeBays

MG Motor India partners with eChargeBays

16 Oct 2019 | 2:12 PM

Mumbai, Oct 16 (UNI) MG Motor India on Wednesday announced its partnership with eChargeBays, a Delhi-based start-up, to assist its customers with last-mile assistance in setting up infrastructure at their home for charging their EV.

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Govt committed to safeguarding IP content: Commerce Secretary

Govt committed to safeguarding IP content: Commerce Secretary

16 Oct 2019 | 1:29 PM

New Delhi, Oct 16 (UNI) Government of India is committed to safeguarding against infringement of originality and creativity of the makers to give a boost to services exports, Commerce Secretary Anup Wadhawan has said.

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J P S  Chawla assumes charge as new CGA

J P S Chawla assumes charge as new CGA

16 Oct 2019 | 1:20 PM

New Delhi, Oct 16 (UNI) J P S Chawla assumed charge as the new Controller General of Accounts, Ministry of Finance, Department of Expenditure, here on Wednesday.

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