- The partnership aims to leverage the account aggregator framework, which allows borrowers to link their bank accounts or financial information on the platform and share it with lenders with their consent.
- The marketplace will also enable easy discovery of various lending products at affordable pricing, and Protean will aggregate Loan Service Providers (LSPs) onto a single platform.
- Protean will serve as an ONDC technology service provider that facilitates availability of credit through PayNearby’s Distribution as a Service (DaaS) network, which has over 12 lakh active outlets across the country.
- The partnership is expected to democratise credit and make it more accessible and inclusive for small enterprises and individuals who are not digitally enabled.
- Protean and PayNearby have previously partnered for paperless PAN Card services at nearby stores across India.
Question:
Q.1 What is the name of the network that Protean and PayNearby are creating a credit marketplace on?a. ONDC
b. UPI
c. Aadhaar
d. GSTN