Pocket Paisa

Problem statement:
In India, 78% of the population has a bank account, but that doesn't mean they can get a loan easily. Many people, especially those with unsteady incomes like street vendors (10 million of them!), can't get loans because they don't have a traditional job or a credit history. Even if they do qualify, it takes 3 days to get approved, which is too slow for emergencies. On top of that, the interest rates are super high (11-38%), making it very expensive to borrow money.  This lack of easy, instant & affordable credit keeps people stuck and makes it hard for them to improve their lives.

Objective:
To build a fin-tech solution that can help the underlying population of India to access credit within a short turnaround time and even when users don't have any credit history.

Solution: View the complete solution here https://docs.google.com/document/d/1n348WCbwvkRGocB_Y5pV6LLDua6eeq5w/edit