Debt'ly Apps

Do our regulators even know whose turf is the payday apps?

- Venkata Ravi Ram

Dinner date Rs.6000, Mobile bill Rs 1,000 and Goa trip Rs. 15,000; and it is 10 days for the next salary! Poor you, who will you turn to? Put an end to all sacrifices you make in the month-end, like a movie or an unplanned trip, Live royally, says Early Salary.com. They add Borrowing cash from dad or friends can be embarrassing. Satyam Kumar, Cofounder of Loantap wrote special occasions- such as a marriage anniversary or the birthday of a loved one- cannot be subject to compromises. Mehrotra, CEO of Early Salary says,“We recognize a recurring need among young professionals- they reach out to their friends and colleagues...We are here to become that friend or colleague from whom you can easily access the funds”

Welcome to the world of the #cashgivingapp! Welcome to the likes of CASHe.co.in and Early Salary.com which are financial technology (fintech) start-ups, and are projected as the next wave in Indian IT/ startup space. You see, the media always needs a next big thing to talk about.

CASHe claims to have disbursed Rs. 200Crores in a year. And, why not? Twinkle Patel, Ahmedabad, gushes

“…with few clicks I got a loan, never thought that loan would be so fast and simple.” Michael Shetty, Mumbai, says: “borrowing on the app is easy...No verification at all.”On Early Salary.com, Imran, who wanted to buy a TV says: “It is as simple as sitting at home, and ordering something online.”