This product aims to widen access to credit to those individuals who have little or no access.
Mumbai: Tata Capital today launched 'Salaam Loans' under its 'Do Right' brand initiative to lend to individuals who may not have access to organised credit. Under the 'Salaam Loans' initiative, individuals would be able to upload their own story, or stories of people known to them on the website www.doright.in, which will then be showcased across the country through social and digital media, the company said in a statement.
"Under the 'Do Right' initiative, this product aims to widen access to credit to those individuals who have little or no access to the organised financial system. Under this initiative, we have given the power of approval to the public to help fulfil their dreams with this unique product," Tata Capital Managing Director and CEO Praveen Kadle said.
He further said these are personal loans, offered up to Rs one lakh at a heavily discounted rates.