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Tatkal Loan: Secure and Trustworthy Money Borrowing Platform

Tatkal Loan: Secure and Trustworthy Money Borrowing Platform

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Rakesh Bothra,MD & CEO
Rakesh Bothra, MD & CEO

Having been in the banking sector for 20 years with Kotak, ICICI Bank& Barclays Bank Plc, Rakesh Bothra strongly felt that the products offered and processes followed by the financial institutions are not meeting the need of today’s borrowers, particularly in the retail lending space. In these changing times, traditional products have far outlived their utility. Customers fail to get what they want and financial institutions ignore them as their scale of operations is not suited to help individual borrowers. Further, the new age fintech companies which are relying only on their back end technology for credit decisions are not able to provide loans which meet customer’s needs. Comprehending all the gaps that existed, Rakesh felt the need for an organization, which can have a mix of technology with personalized service model and that can change the way customer borrows. Technology for speed and efficiency and human
intelligence to have a touch and feel of the customer. He then zeroed in upon establishing Tatkal Loan IndiaPrivate Limited along with his wife Sarika and sister Rekhain August 2017 and obtained NBFC license from RBI in the month of December 2017. The lending operations started in January 2018.

"Since inception, Tatkal Loan has disbursed more than 4 Cr of small ticket unsecured loans and is growing its advance book by 1 Cr every month"

Run by seasoned banking professionals, Tatkal Loan endeavors to provide speedier and flexible loans to customers depending on their needs. “Our idea is to provide speedier and customized loans to customers who are not serviced by existing financial institutions. Our sourcing is done by our group company buzzBT Business Consultancy Private Ltd., which is on a fintech platform. We are using an in-house developed sophisticated credit analysis model backed by personal discussion with the customers,” he informs.

An Open Work Culture
Tatkal Loan as a company believes in hiring young and fresh talent and training them as per the company’s need. It encourages new ideas and is flexible in its approach, just like any other start-
up. “Our team has proper work life balance and we do not encourage late working or working on holidays. We believe that with proper training, motivation and guidance, individuals are able to bring out the best in them,” asserts Rakesh.

The Success Story
Since inception, Tatkal Loan has disbursed more than 4 Cr of small ticket unsecured loans and is growing its advance book by 1 Cr every month. “Our delinquency level is zero and we have been a profit making company right from the inception day. We work on a low cost model and our business model ensures that we will continue to remain profitable in future as well,” mentions Rakesh. Currently, company has a team of 25 members. Geographically, it has started disbursement in Mumbai,Bangalore and Surat.“All of the existing investments are funded by the promoters and now we are looking for getting HNI investors who can infuse around 20 cr,”he adds.

In the times to come, team Tatkal Loan intends to build a book of over 100 Cr by 2020 and increase its presence to 25 cities. “Apart from unsecured loans, we also want to start Consumer Loan, Loan against Property and bill discounting soon,” concludes Rakesh.