What charges are we paying for using the app?
I really hope you understand Jupiter is not the only bank that offers the loan option on their app. And it is also one of the avenues it has explored to drive revenue increase.
To your point of hiring recovery agents, while I would not dispute there have been instances of harassments from loan recovery agents. RBI has issued its own set of guidelines to companies to recover pending dues. I am sure even you would want to recover the money lent to your college partner or room partner.
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@Abhinav_Goyal you really need to read a little more -
- Banking services were launched as part of RBI’s Neo banking framework which allows entities like Jupiter to partner with entities that hold a banking licence to offer banking services.
- Yes, Jupiter acquired the NBFC licence as part of their long term playbook.
- It has been reiterated multiple times that showing the load tab by default is an experiment they are running for specific users.
- Fund raising is not only for lending functions. It is also for raising capital to keep the company running.
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Hey, since you’re uncertain about how a company is running and the specific path it will take, it’s important not to engage in speculation or make assumptions on our own.
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And that statement hold true as very other bank also has a lending vertical. No bank makes money on savings account. They make money on business accounts and lending operations.
By your logic, you would not want to give your number or access to contacts to the apps for the other banks as well, correct?
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Fair enough. And we respect your choice.
As Saurabh, pointed out, let’s not get involved in speculation on products and services we have not used.
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