SG Finserve, an RBI-registered non-banking financial company based in Delhi NCR, said on July 20 that it launched a digital lending service for merchants with BharatPe Money.

BharatPe Money is operated by Resilient Digi Services Private Limited as the lending service provider, while Succesship Technologies Private Limited serves as the technology partner.

The companies said eligible businesses can apply for merchant loans through a fully digital, paperless process with minimal documentation and quicker approvals.

The service is designed to align with Reserve Bank of India digital lending rules on consent and transparency.

Under the Reserve Bank of India framework, lending service providers are outsourced credit-intermediation partners, while regulated entities remain responsible for complaints.

The rules also require APR and charge disclosures in a standardized key fact statement, with loan funds moving directly between borrower and lender accounts.

The launch targets a market where the financing gap for India’s micro, small, and medium-sized enterprises remains large.

A Reserve Bank of India expert committee estimate cited in a 2024 Bank for International Settlements speech put the credit gap at 2 million rupees (US$21,000) crore to 2.5 million rupees (US$26,000) crore.

🔗 Source: BharatPe