Paisadukan plans big rural credit push in 2,500 towns
P2P FinTech player is confident of increasing its loan-book to Rs100 cr from Rs12 cr in 1 yr
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Mumbai: Paisadukan, Indian rural-play P2P FinTech player, is all set to diversify its lending portfolio and increase penetration in smalltowns to cement its position as the nation's only rural lender afterloan repayments has witnessed significant improvement in the lastcouple of months.
With 100 percent P2P market-share in Bihar, the company intends toevolve as the vanguard of the data-led digital revolution by targetingrural-focused lending in a big way.
"Apart from Bihar, Paisadukan currently intends to further fortify itsrural lending footprint across Jaipur, Udaipur, Indore and Chennai.For now, the company has mooted plans to cater 100 villages andsmall towns, and subsequently increase its outreach to about2,000-2,500 villages in the next 12 months", says Rajiv M Ranjan,Founder and Chairman, Paisadukan.
The FinTech continues to be the fastest-growing segment within therural P2P sector, given the size of its current loan book, strongdistribution and exposure to underserved segments where it facesabsolutely no competition.
Its current unsecured loan book stands at Rs 12 crore, however thecompany has plans to increase it to Rs100 crore in the next 12 months,said Ranjan."There is a vast demand. Rural India is untapped and women livingthere are mostly deprived of credit services, our lending is back to pre-pandemic levels, with loan book growing at100 per cent year-on-year without any delays or defaults. During theearly months of lockdowns, loan collections had dropped to about 50 per cent," Ranjan added.
"Riding on our industry knowledge and ability to gauge customerpreferences across the rural demographic, Paisadukan has managed toaddress a plethora of credit needs across the entireexpanse of Indiansmall towns, especially the northern state of Bihar that reflecthigher levels of financial literacy and awareness," he said.
Meanwhile, currently, the company serves more than 750 pin codes (villages) across India. So far, it has disbursed in excess of Rs12crore loans to more than 4,000 women borrowers.
