PaisaDukan opens first rural branch in Bihar to expand P2P lending

In a first of its kind move, Peer to Peer lending start-up PaisaDukan has opened its first rural operations office in Madhubani of Bihar in a bid to enable last mile credit facility to under-served citizens of rural areas.

“We aim to break such barriers and take the first step to introduce an option for rural borrowers by operating within the boundaries of the regulations institutionalised by the Reserve Bank of India (RBI),” the PaisaDukan said in a statement.

“As the Indian economy hugely depends upon financial inclusion especially in the rural areas, we are committed to extend our business operations to unserved and financially deprived areas of the country with our first rural operations office in Madhubani district of Bihar. We believe that unless we don’t reach out to last mile population to include the financially excluded community, we cannot dream to become an economic super power,” said Rajiv M Ranjan, Founder and CMD of PaisaDukan.

PaisaDukan was the first new entrants to receive the Certificate of Registration from Reserve Bank of India in May 2018 to operate as NBFC-P2P company.