Sep 26, 2023
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Are you ready to take control of your financial future? At DigiForum Space, we provide you with the knowledge, tools, and insights you need
BharatPe removes Ashneer Grover's profile from website
Fintech platform BharatPe on Thursday removed Ashneer Grover's profile and photo from its website after the company accused him, along with his wife Madhuri Jain, of allegedly engaged in extensive misappropriation of company funds and grossly abusing company money to fund their lavish lifestyles.
The About Us page on the website now carries the names of Shashvat Nakrani, Co-Founder, Suhail Sameer, Chief Executive Officer, Bhavik Koladiya, another Co-founder and Nishit Sharma, Chief Revenue Officer, along with other senior executives.
However, Grover's LinkedIn page still shows him as a co-founder and Managing Director of BharatPe.
Along with BharatPe, Unity Small Finance Bank, which is a joint venture between BharatPe and the Centrum Group, has also removed his profile from its portal.
Grover on Tuesday midnight quit BharatPe in a dramatic fashion, amid serious allegations of financial wrongdoings against him and his wife.
"As a result of his misdeeds, (Ashneer) Grover is no longer an employee, a founder, or a director of the company," the company said in a statement on Wednesday.
Chit fund cos go tech-savvy with huge data at stake on getting legal status
With the chit fund sector now on a firm legal pedestal with the recent passage of the Chit Funds (Amendment) Bill, 2019, the emerging fintech space surrounding chit finds is set to get a boost. At the heart of this growth is the quest for the gold mine of data hidden in sector, running into several million.
Over the last couple of years, several fintech players are already in the business of data analytics in the chit fund sector, providing services like credit bureau checks and facilitating loans for chit fund subscribers and companies. Also, in the recent years, with banks and non-banking finance companies facing liquidity crunch, chit fund has become a booming business.
According to T S Sivaramakrishnan, president, All India Chit Fund Association, and managing director of Balussery Benefit Chit Fund, the sector has been growing at about 10-15 per cent annually over the past few years.
“After demonetisation, we saw good growth in the value of chit funds. With banks, NBFCs shying away from lending, many small entrepreneurs are turning to chit funds,” he says. Read More