Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
Private banks and start-ups offer instant loans on apps as well as through ATMs.
You can get a lumpsum sanctioned, but you may draw only part of it and pay interest on the amount used.
Short-term loans from NBFCs can be more convenient but come at higher cost
A bunch of CEOs in their mid-30s and early 40s are trying to rectify the scenario where shady lending applications trap hapless borrowers with astronomically high interest rates and even bodily harm if the money was repaid. Anup Roy reports.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
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