That’s exciting news! ONDC’s new digital loan service could really shake things up by making access to funds easier and more inclusive. The speed of approval—just six minutes—along with the ability to apply directly through popular apps like Easypay, Paisabazaar, and Tata Digital, makes this a game-changer for many people, especially those who might have faced barriers to getting loans in the past.
The partnerships with well-known financial institutions like Aditya Birla Finance and Karnataka Bank, with more like HDFC Bank and Kotak Mahindra Bank on the way, indicate strong support and potential for this initiative to reach a wide audience. By cutting out the lengthy paperwork and wait times, ONDC is not only making the process more convenient but also empowering more people to access financial resources when they need them most.
This could be a significant boost for the economy, especially in areas that have traditionally been underserved. It’s a great example of how digital innovation can make financial services more accessible and equitable.
