Aadhaar a big boost for financial services firms: Capital First

aadhaar-a-big-boost-for-financial-services-firms-capital-firstThe Narendra Modi-led government is having substantial impact on startups, particularly with Aadhaar boosting growth for financial services companies, Capital First chairman V Vaidyanathan said in closing remarks at The Economic Times Startup Awards on Friday. 

The penetration of Aadhaar among the country's population coupled with the use of artificial intelligence has created a system where it is now possible to evaluate a customer within seconds and give him or her a loan,“ he said. “This has been a major factor in driving the quick growth of organisations like ours.“ 

Capital First is a non-banking financial institution that specialises in providing debt financing to small and medium entrepreneurs. 

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India has firmly stepped up to the plate for the startup revolution, Vaidyanathan said, adding that factors such as ease for doing business, quality of labour, technology-readiness, availability of venture capital, and quality of life are differentiating factors for cities seeking to project themselves as startup-friendly.

Source: Economic Times