Inditrade Capital (erstwhile JRG) has announced the start of its micro lending operations through its subsidiary JRG FinCorp. Ltd. The company is offering micro loans in technical partnership with Robocash Pte. Ltd.
The company is providing micro loans to individuals ranging between INR1,000 upto INR 25,000 for a short duration. The loans are available to Indian citizens between the age of 21 and 55 years. The loan tenure can range from 7 days to 30 days with a facility to extend the loan tenure up to 30 days. The application process is online, simple and involves minimum documentation.
Making the announcement Sudip Bandyopadhyay, Group Chairman of Inditrade Group of Companies said, “Robocash is a fully automated online lending service that grants loans at any time of the day. Our focus as always is on Financing Progress by servicing un-serviced/ under-serviced segments of the Indian population through inclusive and organized financing. Our technical partnership with Robocash enables us to seamlessly serve a large part of Indian population which is salaried or self employed with low earnings and in need of finance for a short duration.”
Speaking on their Indian foray, Sergey Sedov, CEO of Robocash Pte. said, “Robocash’s expertise in large emerging markets like Russia, Kazakhstan, Philippines, Indonesia and Vietnam with ‘Micro Loans’ and AI supported technology back-end will give us an edge in the Indian market. We are ideally placed to service the Indian market, which has one of the largest salaried and self-employed populations in the world. Our aim is to be a leader in this segment in India, within a period of 3 to 5 years.”
The current offering is primarily online (www.robocash.in) and can be accessed 24 hours a day, 7 days a week. It works during holidays and non-working days too.
