ZikZuk Technologies, a firm in solving credit challenges faced by MSMEs, has been selected by the RBI for the ‘Test Phase’ for MSME lending as part of the third cohort under RBI’s Regulatory Sandbox.
Regulatory Sandbox refers to live testing of new products or services in a controlled/test regulatory environment for which the regulators may permit certain relaxations. The Reserve Bank had received 22 applications for the cohort and shortlisted eight for the same.
A cohort for SME lending will be expected to fill the lending gap for small and medium entrepreneurs through the innovative use of technology and data analytics. ZikZuk will be testing its innovative product ‘Business Finance Manager’ to enable an unsecured cash flow-based model that will open up opportunities to enable credit for NTC (new to credit) and thin-file customers.
Tarun Bansal, Co-Founder, ZikZuk, said, “We are honored that the RBI has selected ZikZuk Technologies for the test phase under Regulatory Sandbox – Third Cohort on MSME lending. We have constantly believed in evolving our products with innovation backed by technology. It gives us great pride that the RBI has found merit in the same. With this feat, we plan to explore more opportunities that will enable us in creating feasible and sustainable solutions for accelerating MSME lending across the country.”
Attribution-Express Computer
