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Highlights Of The #RangDe Telethon: An Initiative To Provide Interest Free Loans To Students From Low Income Households
New Delhi Television Limited (NDTV) and Rang De India, a peer-to-peer lending platform have come together to initiate a campaign to prevent children from dropping out of school by providing interest-free loans to young students from low-income households across the country and create awareness about the crisis brewing in the education space.
Here are the highlights of the #RangDe Telethon:
Atul Shinghal, Founder & CEO, Scripbox, CEO, Probe Equity Research highlighted the role that corporates can play in creating jobs and helping people come out of the current crisis
Low income should not mean low ambition and low opportunity. There is a huge multiplier effect for entrepreneurship. Because we are able to create jobs, it leads to growth. I have experience in micro lending. The moment you are able to provide loan, it helps people to grow. If you combine that with technology, it will help a lot of people.
What Rang De does is that they are combing the power of peer to peer lending and technology. This multiplier effect works. My father believed that education is important. Since my education was good, I could earn. It is my responsibility to give back to the nation. We believe these 4 things are very important - save, invest, grow and give.
Schools are beginning to reopen amidst a lot of chaos. Teachers have had to undergo salary cuts, many parents have not been able to pay the school fees due to job losses. For low income households, the challenge is accentuated further. With classes going online, thousands of children have had to scramble for gadgets to get online. The digital divide has never been more obvious, resulting in several kids dropping out of school.
To address the brewing crisis in the education space, Rang De along with NDTV hopes to intervene by providing interest free loans to low income households. The campaign aims to create awareness about the problem and raise interest free loans for student communities across India.
Rang De is a peer-to-peer lending platform that enables individuals to invest in fellow Indians. Started in 2008 as a non-profit, Rang De is now an RBI regulated peer-to-peer lending platform (NBFC-P2P).
Rang De's mission is to provide access to low cost, collateral-free loans with respect and dignity. Since inception, Rang De has been supporting farmers, artisans and small businesses and individuals who have been denied credit or cannot afford high-interest loans.