Disclaimer: This video is intended solely for educational purposes and opinions shared by the guest are his personal views. We do not seek to defame or harm any person/ brand/ product/ country/ profession mentioned in the video. Our goal is to provide information to help audience make informed choices.

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Timestamps:

(00:00 ) - Introduction
(02:53 ) - Differences between modern and traditional banks
(04:06 ) - What are new-age banks?
(06:53 ) - Challenges with cooperative banks
(10:45 ) - Understanding modern banks
(12:00 ) - Why do different banks offer different credit limits?
(18:58 ) - How credit cards can be problematic
(23:30 ) - Banks' pressure can result in extreme consequences
(24:19 ) - Is credit beneficial for economic growth?
(25:16 ) - Ideal checklist for banks when giving loans
(27:43 ) - Issues with unsecured lending
(29:20 ) - The cost of capital for businesses
(34:46 ) - Why people are investing in India
(35:24 ) - Common mistakes businesses make with capital
(43:45 ) - Why the loan system isn’t customer-centric
(45:40 ) - Who should consider using Wegofin?
(48:13 ) - The origin story of Wegofin
(49:20 ) - Challenges of partnering with banks
(51:50 ) - Potential risks and issues
(55:24 ) - Why customers frequently change bank accounts
(57:25 ) - Why most investors fail in the stock market
(1:05:05 ) - End of the Podcast
(1:05:29 ) - Outro


In today’s episode of Figuring Out, we have Y.S. Prabhu Kumar in conversation with Raj Shamani. He is the Founder and CEO of Wegofin. He shared his in-depth insights into the banking reality of India and everything around it.

In this episode, we talked about the difference between traditional and modern/ legacy banks, what are the top traditional and legacy banks according to him, and why different banks offer different credit limits. We then talked about banking apps that offer quick loans and if it's healthy, what is the checklist of banks while offering loans to people, and what are secured and unsecured loan lending.

Towards the end, we talked about the common mistakes that businesses make while taking the capital, for whom is Wegofin, what types of businesses can use their services, problems that come while partnering with banks, and what consumers feel after buying unnecessary banking products. To watch more of such insightful episodes, subscribe to our channel now!

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