BranchX Becomes India’s 1st Neobank to Launch ONDC Loans For Financial Inclusion

Current Context: BranchX, a leading neobank innovator in India, has introduced the nation’s first personal loan solution through the Open Network for Digital Commerce (ONDC).

• This initiative aims to enhance financial inclusion for India’s 1.4 billion people, with a focus on the emerging middle class, young professionals, small business owners, and entrepreneurs.
• By leveraging the ONDC framework, BranchX offers a digital-first approach, ensuring a paperless and transparent process from loan application to disbursement.
• This not only improves affordability but also empowers borrowers to manage their finances more efficiently.
• Additionally, BranchX provides voice AI banking to enhance financial literacy and personalized guidance for informed decisions.

Question:

1 What is the primary focus of BranchX's new personal loan solution through the ONDC framework?

• A) Enhancing financial inclusion for India's 1.4 billion people
• B) Increasing international trade
• C) Promoting traditional banking methods
• D) Supporting large multinational corporations

Answer: A) This initiative aims to enhance financial inclusion for India’s 1.4 billion people, with a focus on the emerging middle class, young professionals, small business owners, and entrepreneurs.