Credit and financing for MSMEs: Digital finance platform Protium has disbursed over Rs 3,000 crore over the past two years and has built a loan portfolio of Rs 1,750 crore, according to the company. Protium, which provides secured and unsecured loans as well as cash flow based loans to MSMEs, consumers and educational institutions, has served over 5 lakh clients, of which over 1 lakh are MSMEs who have got Rs 3 lakh to Rs 5 crore in credit, he said in a statement. Protium said it “remains significantly profitable” with 80% of the company’s loan portfolio secured/asset-backed and NPAs at 0.22% in July 2022. The company launched in early 2020.
“The fundamentals of financing have not changed for a thousand years. Technology is table stakes at this stage of the game. The key differentiator is how an organization fundamentally ties the two together – and that’s where a company’s DNA really shines through. Throwing money and people at this problem is the wrong answer, as many have discovered. Moreover, at Protium, there is no growth unless it is weighted by the risk it presents itself,” said Peeyush Misra, Partner and Managing Director of Protium.
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Protium has created a credit management and processing platform to process loans up to Rs 30 lakh in less than five minutes using their Turiya technology system. “This hybrid model of combining offline and online operations helps Protium reach millions of customers while maintaining a high focus on risk and growth simultaneously,” the company added. Currently, Protium employs over 1,600 employees in over 60 cities.
Meanwhile, bank credit to micro and small enterprises (MSEs) increased by 23.7% in June 2022 compared to the previous year period, according to the latest data from the Reserve Bank of India (RBI) on the deployment. bank credit sector. Gross bank credit deployed to MSEs in June stood at Rs 14.29 lakh crore compared to Rs 11.55 lakh crore deployed in June last year and Rs 11.62 lakh crore in June 2020.
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