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Connecting borrowers and lenders: Indians try peer-to-peer model

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05 Dec 2013 11:00 #166676 by chairman
Srinivas Porika tried for months to get a loan of 250,000 rupees ($4,000) to pay for his sister’s wedding, but every bank he tried turned him down. The problem: Porika’s employer, a tech start-up company, was not on the banks’ lists of pre-approved companies.

“They were ready to give me a credit card, but were not ready to give me a loan,” said the 28-year-old from Hyderabad, who met several bank managers and officials to plead his case.
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
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Clara
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