25) Open Credit Enablement Network (OCEN) Flashcards
1
Q
What is OCEN ?
A
It is a credit protocol infrastructure which will mediate the interactions between loan service providers usually fintech and mainstream lenders , including large banks and NBFCs
2
Q
Who has developed it ?
A
A think tank, Indian Software Products Industry Round Table (iSPIRT)
3
Q
Benefit of this ?
A
With this, a credit will become more accessible for a large number of entrepreneurs and small businesses in the country
4
Q
Who are investors under this ?
A
Private equity and venture capital players , angel investors, high net worth individuals etc
5
Q
Whose recommendation was this OCEN ?
A
Former SEBI chairman UK Sinha committee on MSME’s
