Latest news with #AmitDas
Time of India
5 days ago
- Business
- Time of India
Combatting Financial Fraud: AI Algorithms for Real-Time Detection & Risk Management
Every second, somewhere in the digital world, a fraudster is plotting their next move. But what if the system could catch them… before they even strike? This isn't sci-fi… it's happening now. AI is learning to predict and prevent fraud in real time, turning the tables in a high-stakes game that could save billions. But how are these systems built, and what does the future of financial security look like? Join our distinguished panel, including Amit Das, Co-founder & CEO of Suhas Gopinath, Founder & CEO of Globals Inc; and Rohit Taneja, Founder & CEO of Decentro, as they discuss the cutting-edge solutions protecting the financial ecosystem a part of this critical discussion at the ET Soonicorns Summit 2025. Tune in on August 12th, between 4:45 and 5:25 PM. Secure your free spot now! Show more Show less
Time of India
16-07-2025
- Business
- Time of India
They earn less than Rs 50,000, but this is how 93% salaried Indians are spending more
A recent study reveals a significant rise in credit card usage among lower-income Indians, with 93% of salaried individuals earning under ₹50,000 and 85% of self-employed individuals now relying on them. Buy Now, Pay Later (BNPL) services are also gaining traction, particularly among self-employed individuals. Tired of too many ads? Remove Ads BNPL Also Gaining Popularity Tired of too many ads? Remove Ads Fintechs Leading the Charge Credit cards are no longer just a luxury item for the wealthy. A new study shows that nearly 93% of salaried Indians earning under ₹50,000 per month now rely on credit cards to manage their expenses, reflecting a growing dependence on short-term credit among lower-income to a report by a data science and AI firm, this trend is not limited to salaried workers. Around 85% of self-employed individuals surveyed also use credit cards to meet their daily financial study, which observed the financial habits of over 20,000 salaried and self-employed individuals across India over a 12-month period, highlights a shift in how people access credit in today's digital not just credit cards. The Buy Now, Pay Later (BNPL) model is quickly catching on too. The study found that 15% of salaried individuals and 18% of self-employed people are using BNPL services.'In India's evolving credit landscape, products once seen as aspirational, credit cards and BNPL, are now essentials for everyone, from salaried professionals to gig workers,' said Amit Das, Founder and CEO of as quoted by report also points to the rising influence of fintech companies in India's credit market. In FY23, fintech firms disbursed over ₹92,000 crore in personal loans, making up 76% of all new loan originations by study notes that digital-first credit solutions like credit cards and BNPL are becoming especially important for low and middle-income earners who often struggle with cash flow or are not well-served by traditional from PTI
Mint
16-07-2025
- Business
- Mint
93 percent of salaried individuals with low income use credit cards: Report
Reflecting growing reliance on credit cards, particularly among low-income groups, a study has discovered that around 93 per cent of salaried respondents earning less than ₹ 50,000 per month rely on credit cards, reported PTI quoting a report. The study, which analysed the financial behaviour of more than 20,000 salaried and self-employed individuals across the country over a year long period, stated that 85 per cent of self-employed individuals rely on credit cards. Buy Now Pay Later (BNPL) services are also not behind with 18 per cent of self-employed and 15 per cent salaried persons using these products, the study by released on Tuesday, stated. "In India's evolving credit landscape, products once seen as aspirational, credit cards and BNPL are now essentials for everyone, from salaried professionals to gig workers," Founder and CEO Amit Das said. The report also underlined the growing dominance of fintechs, which are leading India's digital lending revolution. In FY23, fintechs disbursed over ₹ 92,000 crore in personal loans, accounting for 76 per cent of all new loan originations by volume, the study noted. These figures reflect how underserved income segments are turning to short-term, digital-first credit products to manage cash flow, the study said, while calling for lenders to adapt their risk assessment models and use smarter AI-driven credit evaluation techniques. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
&w=3840&q=100)
Business Standard
16-07-2025
- Business
- Business Standard
Borrowing to survive: 93% of India's under ₹50K earners turn to cards, BNPL
A new study by a CAMS company, reveals a significant shift in how India's low-income earners borrow and manage cash flow. Based on behavioral data from over 20,000 borrowers, the research shows that A whopping 93% of salaried individuals earning under ₹50,000 per month now rely on credit cards, with a growing number turning to Buy Now, Pay Later (BNPL) products to manage daily expenses and working capital needs, as per a new study by a CAMS company. Based on behavioral data from over 20,000 borrowers, the research shows that credit cards have now become essential tools for short-term liquidity among India's underserved segments. Among the self-employed earning under ₹50,000/month, 85% use credit cards, while BNPL usage is also significant—18% among the self-employed and 15% among salaried users. This shift is especially evident among those earning below ₹25,000/month, many of whom are New-to-Credit (NTC) or Existing-to-Credit (ETC) borrowers. These groups often juggle multiple loans, making them more vulnerable to defaults and late payments. 'Credit cards and BNPL are no longer aspirational luxuries—they've become financial necessities,' said Amit Das, CEO of 'We must use alternative data and AI to responsibly expand access to credit while managing risk.' Further, 74% of individuals earning under ₹20,000 take multiple loans to manage their needs, often leading to higher EMI defaults and increasing their lending risk profiles. The Lending Risk Score shows that 35% of self-employed and 25% of salaried borrowers fall into the high-risk category, demanding smarter credit evaluation techniques. These behaviors are deeply tied to India's evolving digital credit ecosystem. Key Findings from the Study: 60%+ rely on personal and gold loans. Only 28% of self-employed individuals invest, versus 75% of salaried individuals. Insurance penetration: 71% (salaried) vs. 47% (self-employed). UPI adoption is near-universal: 89% (salaried), 92% (self-employed). Self-employed individuals are more likely to hold multiple loan accounts and use a mix of secured and unsecured credit options. As a result, traditional credit scoring models may fall short in assessing these consumers. emphasizes the need for AI-based risk models that incorporate alternate data such as UPI history, mobile usage, GST filings, and digital payment patterns. India's fintech sector disbursed over ₹92,000 crore in personal loans in FY23, accounting for 76% of all new loan originations by volume. Many of these are small-ticket loans averaging ₹10,000, especially targeted at borrowers without a formal credit history. If you're a low-to-moderate income earner using digital credit tools, it's crucial to:
Time of India
15-07-2025
- Business
- Time of India
Study finds 93 pc of low-income salaried individuals rely on credit cards
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Reflecting growing reliance on credit cards among low-income groups, a study has found that around 93 per cent of salaried respondents earning less than Rs 50,000 per month rely on the plastic study, which analysed the financial behaviour of over 20,000 salaried and self-employed individuals in India over a 12-month period, stated that 85 per cent of self-employed individuals rely on credit Now Pay Later (BNPL) services are also not behind with 18 per cent of self-employed and 15 per cent salaried persons using these products, the study by released on Tuesday, stated."In India's evolving credit landscape, products once seen as aspirational, credit cards and BNPL are now essentials for everyone, from salaried professionals to gig workers," Founder and CEO Amit Das report also underlined the growing dominance of fintechs, which are leading India's digital lending FY23, fintechs disbursed over Rs 92,000 crore in personal loans, accounting for 76 per cent of all new loan originations by volume, the study figures reflect how underserved income segments are turning to short-term, digital-first credit products to manage cash flow, the study said, while calling for lenders to adapt their risk assessment models and use smarter AI-driven credit evaluation is a global full-stack data science and AI-focused firm.
