Things were going really well for Paisabazaar, until the Reserve Bank of India stepped in and hit it where it hurts. The RBI told banks to clamp down on the unsecured loan segment – which happens to be Paisabazaar’s bread and butter.
The regulator has discouraged lenders from small-ticket collateral free loans. And of course lenders know better than to ignore the RBI’s directive.
So for Paisabazaar that meant its lending partners started shying away from unsecured loan leads. After a dream run, growth started slowing down. The company knew it had to do something and fast.
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