Today, the total consumer credit in India stands at $287 billion. Over 70% of this credit is being consumed by the 9% of the society (the Elite and Affluent segment). Whereas, the segment known as the Next Billion (households with an annual income between INR 1.4 Lacs and 4.5 Lacs), forming 45% of the society, has access to only 8% of the formal credit.

Access to credit is essential for every individual and households in particular. With lack of formal lending to this segment, the informal channel is flourishing. The interest rates start from 4-5% a month and go up without any limit. The perils of borrowing from this channel are harrowing. From debit cards being used as collateral to the harassment from the lenders, the borrowers are led into a spiral from which they can never recover. Banks and NBFCs wouldn’t even touch this segment and are comfortable lending only to the elite and affluent.

Shubh Loans was established to not only enable the Next Billion in accessing loans but also champion the cause of financial literacy. Using Shubh Loans, people can access loans up to 5 Lacs with a long EMI tenure (up to 4 years).

We believe that the start of any responsible credit lending starts with customer education. Today, before applying for loans, the Shubh Loans mobile app shows a credit score, which is out of 100 – ‘what can be measured is what can be improved’. Therefore, the Shubh Loans Credit Score acts as a financial health meter for the people.

The app generates an easy to understand the report which has insights into a customer’s credit standing – what they are doing well and not so well. To make it more transparent and user-friendly, the report is available in local languages including English, Kannada, Tamil, Hindi, Telugu, and Marathi.

SHUBH Loans – Founder’s

Monish Anand, CEO & Founder, Ashoka Fellow
Over 23 years of experience in banking, technology, and telecom gives Monish a unique perspective in understanding these industries. Monish has led national and international level positions at multiple organizations and has also been involved in start-up operations & Greenfield projects.
Specialties: Business and product development, consumer finance, credit underwriting, collections, channel management, sales and distribution, BFSI Technology.

Rahul Sekar, CTO & Co-Founder
IIT Madras alumni, previously heading portfolio analytics and modeling for Goldman Sachs Asset Management in Bangalore. Expertise in the use of data modeling to assess risk and evaluate creditworthiness. Lead global projects in business cycle forecasting, quantitative data mining, loss forecast modeling, econometric loss provisioning, fraud analytics, and credit governance.

SHUBH Loans – Reach and Expansion

● 120+ members team
● Launched in 13 city
● Number of loan applications – 1000+ per day
● Number of loans disbursed – 150+ loans per day
● Number of lending partners / strategic partners – 25+
● Number of credit reports generated – Over 10 Lacs
● Number of app downloads – Over 15 Lacs

SHUBH Loans – Future Projections

● Grow our presence from 13 cities to PAN India operations (including tier 2 and 3 cities).
● Explore new segments for lending including domestic help, self-employed and others.

Having 5+ years of Experience in Operations Head, Logistics, Affiliate Marketing, Email Marketing, UI/UX Designing. Anupama B Gaba is currently engaged with 2 entities one is TechnoGripper Solutions Private Limited as Director and another is WEXT.in Community as Cofounder.

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