BharatPe, a leading fintech unicorn, witnessed a remarkable increase in revenue for FY23. Although the losses narrowed, the company still incurred losses of over Rs 800 crore before tax. In line with its strategy for sustained profitability, BharatPe plans to control expenses and introduce new merchant-focused products. The startup’s lending vertical experienced a significant rise of 129% in loan disbursements. The shift towards profitability has become crucial due to investors’ emphasis on financial prudence.
The Reserve Bank of India’s decision to tighten lending rules is a timely move for the Indian economy.
The World Bank has proposed measures to increase lending to developing countries by an additional $100 billion over the next ten years. This move is part of the bank’s ongoing reform process and aims to incorporate climate change into its mission. The bank’s management plans to seek shareholder approval for a hybrid capital measure and a new portfolio guarantee platform that could result in lending growth beyond the proposed amount. These efforts complement existing measures to enhance lending by up to $50 billion.
