Big Idea

Perks of Inclusion

Blue-collared workers can now avail loans easier, thanks to Bengaluru-based PerkFinance

RA Chandroo

"India is home to 150 million provident fund accounts. Of these, 140 million belong to workers who earn Rs.10,000-30,000 monthly. However, they have a hard time getting their loans approved from conventional banks,” says Vikas Kothari, co-founder, PerkFinance.

Sadly, it’s a vicious circle: no loans, no credit score. No credit score, no loans. Clearly, financial services for blue-collar employees is a massive opportunity. The space is under-penetrated, the economy is growing, we are shifting from portly public sector banks to sleek private ones, and the smartphone age is upon us.

Leverage technology and you have the recipe for a piping-hot business model. That is precisely what Oxford-grad

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