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Can Kreditbee Harvest the Indian Lending Comb for Profitability?
- 2Gkashmiri 4y agocredit lending SHOULD NOT BE EASY. this is a really terrible way of making money from the misery of the masses regardless of whatever " A quick, convenient and hassle-free way to secure funds can be a godsend. " is a misnomer. there is a reason for banks to have lots of paperwork, lots of bureaucracy, lots of "friction". on one hand, there are the old moneylenders who would charge 5% a month (i have seen this from a random laborer 7 months ago) so for these people, they would save up on a lot of money but on the same hand, this invites really bad people from doing predatory loan sharking "apps" and that is VERY VERY bad also. what is the middle ground? i don't know but why shouldn't conventional banking do this job because they have real world experience in dealing with stuff, rather than any "neo" app or fincorp or whatever BS VC funded companies are pushing out. please stop.