New Delhi, Nov 12 (PTI) Non-banking finance company IIFL Finance on Friday launched an account aggregator-based loan service through WhatsApp.

Account aggregators are entities that allow individuals to share and access data from one financial institution to another in the consolidated networks of account aggregators. In a statement, the company said it has launched India's first account aggregator services backed by RBI on its WhatsApp number -- 9019702184 -- in an effort to meet credit needs of underserved customers. This loan product will be focussed on serving micro, small and medium-sized enterprises starting with Rs 10,000 and going up to Rs 10 lakh. The interest rates would start at 11.75 per cent and for a minimum period of six months. Sanjeev Shrivastava, Chief Risk Officer at IIFL Finance said that WhatsApp makes it easy, secure, and transparent for businesses to get credit from the NBFC through the ease and comfort of their homes - available 24x7. "The complete journey till disbursal can be completed on WhatsApp". The retail-focused NBFC had launched up to Rs 10 lakh loan on WhatsApp for the first time in India about a month ago.

Also Read | Vivo Y15s With Android 11 Go Edition Launched; Prices, Features & Specifications.

****************************** HDFC Bank integrates with government's eNAM platform Largest private sector lender HDFC Bank on Friday announced an integration with Government of India's National Agriculture Market (eNAM) to enable digital collections and settlement of funds to beneficiaries. The integration will help the lender reach over 1.71 crore farmers, as per an official statement.

Also Read | How To Link Your Bank Account to Google Pay.

****************************** Mumbai Angels Network participates in USD 2.6 mln fundraising round for beGalileo

* Mumbai Angels Network on Friday said it has participated in a USD 2.6 million fundraising round for beGalileo, an edtech platform.

Other investors include Navneet Tech Ventures among others, and the platform is aiming to take its overall paid user base to 2.5 lakh now, as per an official statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)