Digital Money in India is available in different format like Internet Banking, Credit Card, Debit Card, Money Transfer, Wallet System, etc. Mr. V. Raman Kumar today announced the launched of CASHe App unveiled by Bollywood rising star Arjun Kapoor. CASHe provides short-term loans to young professionals up to 40% of their salary with minimum documentation via Smartphone. Q&A sessions at the launch with Mr. V. Raman Kumar highlighted some important aspect, you can read below.

Why CASHe – 

There are limited banks that provide nominal value of credit cards.  When we talk about young professionals who are looking for an alternative method for payments has no other solution. CASHe rather is a simple mobile based money lending platform that will offer them 40% of credit depending on their salary. Once verified and updated on the CASHe platform anyone can borrow a specific percentage of amount.

Impact of CASHe on the future of digital money –

A new concept takes some time to get common among masses. CASHe is the first unique mobile lending platform. In the next few months we will be able track the app popularity. It is available on Google Play for download. The app is launched and in few months we can track the amount of download, a number of people started using and those who are able to take benefit from the short term lending platform.

If a person does not repay the money, how CASHe can recover the amount –

Through CASHe we have comprehensive details of the person who is using the service. So we have the information to reach the person and persuade him/her  for the payment. We will also use social media in it. We do not believe in using conventional methods for the recovery process used by lending business. We do have a provision to write off a certain amount in the form of settlement but that information will remain with the company.

About:

V. RAMAN KUMAR – Chairman & Chief Evangelist

Raman Kumar is a successful entrepreneur and private equity investor, with a track record of challenging the status quo. He is currently working on a large financial technology platform, which will change the way consumers obtain credit and borrow personal loans by utilising advanced algorithms and artificial intelligence. His new venture will offer a sophisticated yet simple approach to the personal loan process, bringing joy and financial empowerment to the millennials.

Raman has over 30 years of experience owning and managing public and private companies. He was the founder, former Chairman/CEO and Board Director of MModal Inc. (NASDAQ: MODL) – a leading voice recognition, clinical documentation technology & services company.  He founded CBay Systems, subsequently renamed as MModal, in 1998, transforming a start-up company into the world’s largest provider of clinical documentation technology solutions to the US healthcare industry. MModal was sold to One Equity Partners (JP Morgan’s private equity arm) in 2012 for USD 1.1 billion in one of the largest M&A transactions of that year in the healthcare technology space in the US. Raman has won several awards and recognitions for his outstanding contributions to entrepreneurship and business leadership. Amongst others, he won the Ernst and Young’s Entrepreneur of the Year 2007 award for Maryland. He was also honoured with the prestigious Maryland International Business Leadership Award by The World Trade Centre Institute in Baltimore in the same year.

In addition to all that Raman has accomplished over the years, he is a limited partner in three large multi-billion dollar international private equity funds. He has also invested across sectors in India, US and the Middle East. His prominent investments in India include publicly listed companies like Zicom and Genesys and private companies like Empays, ApodisHotels, Zyfin Research and Pescafresh. He is a director on the board of T-Hub – the technology incubator and accelerator based in Hyderabad. As the Founder Chairman of the Aeries Group, Raman is currently focused on expanding the groups’ already diversified portfolio of businesses, spanning information technology, accounting and business consulting, private equity and financial technology sectors.

Raman did his B.A (Hons.) and M.A from St. Stephen’s College, Delhi before attending the  School of Organization and Management at Yale University.