Show Notes

India has a unique opportunity to create a new and alternative credit infrastructure that can provide easy access to credit for millions of businesses and individuals

Nandan Nilekani

Large sections of individuals and businesses in India do not have access to formal credit. Today just the MSME sector alone has a credit gap that is pegged at $300 – $ 400 Billion, with thousands of small businesses unable to access affordable credit. However, a transformational change is coming to India that aims to revolutionize how credit is provided to borrowers by lenders. This change is called the Open Credit Enablement Network or OCEN.

In this week’s episode we chat with Ankit Singh, the co-founder of CredAll – a collective that is helping evangelize OCEN in India. OCEN aims to provide a common protocol for various entities in the lending ecosystem, to speak the same language and create innovative, financial credit products for the market, at scale.

Join us as we demystify this latest development in the fintech world.

Additional information

• U K Sinha, RBI (2019), Report of the Expert Committee on Micro, Small and Medium Enterprises
• Rahul Sanghi, Aryaman Vir (2019), OCEN a conversation
• CredAll (2019), Resources