&w=3840&q=100)
Digital debt collection makes strides as lenders use tech to cut visits
premium
Raghu Mohan
Listen to This Article
'We currently manage collections for over 98 million retail and small-business loan accounts, covering a loan book of about $250 billion,' says Rishabh Goel, cofounder and chief executive officer (CEO) of Credgenics, a software-as-a-service platform for debt collection. With more than 700 million smartphone users and over 450 million UPI users, digital access is everywhere. 'WhatsApp, used by over 550 million of us, is now a default channel for collections and legal followups,' points out Nitin Purswani, cofounder and CEO of Medius Technologies. And that 'over 25 million people paid EMIs digitally in May 2025. Many of these are missed
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
an hour ago
- Hans India
Farmers told to ensure bank accounts are active
Rajamahendravaram: Another major promise under the Super Six commitments of the Andhra Pradesh government has been fulfilled with the launch of the Annadata Sukhibhava scheme. The first instalment of financial support will be credited to the bank accounts of eligible farmers on Saturday, said Minister for Tourism, Culture, and Cinematography Kandula Durgesh. As part of the first phase, a sum of Rs 7,000 is being deposited into each eligible farmer's account. Of this, Rs 5,000 is contributed by the state government, while Rs 2,000 is from the Central government under the PM-Kisan Yojana, the minister clarified. The scheme is designed to provide a total benefit of 20,000 to each farmer in three instalments. Durgesh stated that following the Chief Minister's directive, inaugural events are being held at Rythu Seva Kendras (Farmers' Service Centres) across the state to mark the release of funds. Fulfilling this commitment to farmers reflects the government's dedication to public welfare and its ability to uphold the trust of the people, he added. Farmers were also advised to ensure their bank accounts are active. For those eligible farmers who may not have received the credited amount yet, the minister urged them not to panic. He advised them to contact the helpline number 155251 or the WhatsApp Governance number 9552300003 for assistance. They may also approach their local Rythu Seva Kendras for support.
Time of India
4 hours ago
- Time of India
Stock tip scam nets3cr: Four arrested
1 2 Hyderabad: Sleuths from the Telangana Cyber Security Bureau (TGCSB) have arrested four cyber fraudsters, including a city-based software consultant involved in a drone start-up, for duping a city businessman out of 3 crore through a fake stock market investment scheme. The victim, a businessman from North Lalaguda, informed the police that he was added to a WhatsApp group titled "SMC Global Securities" on April 14 by individuals identified as Anu Prita and Ajay. On June 19, the complainant was persuaded to subscribe to an initial public offering (IPO) and was pressured to transfer at least 3 crore for share allocation. Trusting the fraudsters, who assured him that the funds could be withdrawn at any time, the victim transferred the sum in 16 transactions to various bank accounts. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Although he was allowed to make a token withdrawal of 10,000, he was later informed that his account had gone into a negative balance. This prompted him to file a complaint with TGCSB on June 28. Investigators traced one bank account in Kerala that had received 77 lakh. Further examination revealed that 8 lakh had been routed to a current account with a leading private bank held in the name of "Drones Spray", a company started by Srinivas Manubothula (45), a software consultant from Narsingi, for his drone software start-up. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Duong 9b: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Police arrested Srinivas along with his alleged accomplices: Syed Yousuf (45); Chekka Yeshaya (54); and Mohammed Jaber Ahmed (42) All of them were arrested in Hyderabad. "Srinivas had incurred losses in the business he started in 2023 and was seeking investors. His friend Shekar, who supplies bank accounts to cyber fraudsters, introduced him to the others. Srinivas agreed to let them use his bank account in exchange for a 10% commission. They took the SIM card linked to Srinivas' bank account and, after routing 4.3 crore through it, returned the SIM card along with 2 lakh in cash," said TGCSB Director Shikha Goel.
Time of India
4 hours ago
- Time of India
At Rs 25.1 lakh crore, UPI payments hit new high in July
Mumbai: UPI transactions reached a new peak in July 2025, with a record 1,947 crore transactions worth nearly Rs 25.1 lakh crore. This marked a 35% year-on-year growth in transaction volume and a 22% rise in transaction value. The average daily transaction count in July stood at 62.8 crore , higher than June's 61.3 crore. Likewise, the average daily transaction value increased to Rs 80,919 crore in July from Rs 80,131 crore in June, reflecting steady momentum in digital payments. Both volume and value metrics show that UPI continues to expand its footprint, with July registering the highest monthly transaction count on record. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
