Kinara Capital Launches myKinara Mobile App for MSME Collateral-free Loans

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Kinara Capital, a fast-growing fintech, recently launched myKinara mobile app that comes with a simple 3-step process and is a first-of-its-kind in the unsecured MSME business lending space. myKinara app, now live on the Google Play Store, puts the power at the fingertips of small business entrepreneurs to securely apply and receive collateral-free business loans digitally within 24-hours turnaround time (TAT).Kinara Capital launches myKinara AppLeveraging years of Kinara’s proprietary data-driven AI/ML-based credit decisioning, the myKinara app now makes the digital process used by field officers directly accessible to MSMEs in India. The myKinara app is available in multiple languages including, English, Tamil, Hindi, Telugu, Kannada, Marathi and Gujarati. Women-owned MSMEs qualify for an automatic discount under the company’s HerVikas programme, without requiring any separate application.Video link: www.youtube.com/watchv=b4qifjrr6w4″With the proliferation of smartphones, MSMEs are ready and willing to participate in digital India, but there are limited solutions for them. Our vernacular myKinara app extends our financial inclusion commitment by enabling small business entrepreneurs to create a self-directed loan application journey. Fast decisioning, processing, and disbursements in a span of 24 hours goes a long way in meeting the demands of our customers, thereby supporting their business growth,” said Hardika Shah, Founder and CEO, Kinara Capital.Small business entrepreneurs can check their eligibility in under 1-minute without any document uploads in the first step. By completing KYC and income verification in the app directly, the applicant will receive a loan decision with details of the approved loan amount, interest rate, loan tenor and the approximate Monthly EMI. They can then continue the loan disbursement process with an e-sign option.With the myKinara app, small business entrepreneurs can choose to complete the process in their own time with help always just a click away. They can contact Kinara’s multilingual customer call center directly from the app, or request for doorstep customer service if they need in-person support. Kinara’s vast network of 110 branches will continue to help local MSMEs and follow the same digital process as available on the myKinara app.About Kinara CapitalKinara Capital is a fast-growing fintech propelling financial inclusion of small business entrepreneurs in India. Boasting a women-majority management team, Kinara Capital has set itself apart in the industry with its emphasis on social impact and profitable growth. Globally recognized for its innovative approach, Kinara earned the ‘Bank of the Year-Asia’ award by the IFC, is ranked among the ‘Top 100 High-Growth Companies in Asia-Pacific’ by the Financial Times and is named among ‘India’s Growth Champions’ by the Economic Times. Kinara Capital is qualified as a Systemically Important NBFC by the Reserve Bank of India and is a debt listed entity on the Bombay Stock Exchange (BSE). Founded in 2011, Kinara Capital has made a mark with its innovation in financial inclusion by providing fast and flexible collateral-free loans in the range of INR 1-30 lakhs across 300+ MSME sub-sectors serving 3000+ pincodes in India. Headquartered in Bangalore, Kinara Capital has 110 branches across 90+ cities in India. Click here for more information kinaracapital.com and follow us on Twitter @KinaraCapital. Download the myKinara app on the Google Play Store.This press release may contain projections and other forward-looking statements regarding future events or future financial performance. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Given business risks and uncertainties, undue reliance on these forward-looking statements should not be placed. Actual events or results may differ materially from those contained in the projections or forward-looking statements.

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal