‘12% Club’ App – BharatPe

Current Context: The BharatPe has launched the ‘12% Club’ app. The app is basically an investment-cum-borrowing product.

• The app will allow customers to invest and earn up to 12 % annual interest or borrow at a similar rate.
• The app was launched in partnership NBFCs which was approved by RBI.
• By selecting the lend money on the ‘12% Club’ app, the customers can invest their savings at any time.
• The customers can also opt for collateral-free loans of up to Rs 10 lakh through the app itself. The loan will be availed with a tenure of 3 months. There are no processing charges or pre-payment charges on the consumer loans.
• The company has set the upper limit to Rs 10 lakh for investing by an individual and will be increased to Rs 50 lakhs over the next few months.
• The BharatPe aims to achieve an investment asset under management (AUM) of $100 million and a lending AUM of $50 million from this app by the end of the current financial year i.e. March 2022.
• Static Part: 
• HQ of BharatPe: New Delhi
• CEO of BharatPe: Ashneer Grover

Question: 

Q.1 Which company launched the ‘12% Club’ app?
a. Setu
b. Ujjivan Small Finance Bank
c. BharatPe
d. Airtel Payment Bank