True Balance || Budget Quote

Vishal Bhatia, CFO, True Balance shares his thoughts on the Union Budget 2022 “With a clear focus on fintech, digitization and lowering the transaction cost, Union Budget 2022 comes on a positive note for the fintech sector. The government is realizing the importance of the digital financial ecosystem as setting up 75 digital banking units will most definitely encourage digital payments. With the thrust being on digital payments being economical, we have always been an enabler to empower the Next Billion users by providing full-fledged financial services and inching closer to the dream of Digital India. The direct transfer of funds from the post-office to bank accounts will mirror our goal to have capital and funds available to every person no matter the financial background. In addition to that, the introduction of digital currency will also be a push for the digital ecosystem of the country by enabling more consumers to go online with their finances.”

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About True Balance: True Balance India is RBI authorized digital lending platform, wholly-owned subsidiary of Balancehero Co. Ltd., Korea which runs and operates the mobile App 'True Balance'. Balancehero is a start-up founded in Korea in 2014 by Cheolwon ‘Charlie’ Lee who successfully led ‘Wider Than’ and ‘Access Mobile’ in the past. In 2016, the app was officially launched in India to help users to efficiently manage their phone calls & data usage. So far, the brand has raised 85 MN USD funding until November 2020. India’s no.1 financial platform for the next billion users, the app provides solutions to all the financial needs of its users. Consumers can pay utility bills and get instant loans for themselves. Over the last few months, True Balance has disbursed more than ~INR 700 crore across the nation. Loans in the range of INR 1,000-50,000 have been given to more than 7 million Indians. True Balance is an enabler to empower the Next Billion users by providing full-fledged financial services and inching closer to the dream of Digital India. They intend to deliver value to users, employees, stakeholders, and investors going forward.