Bengaluru-based Rang De is a P2P lending platform which started in 2008, two years after Prof.Muhammed Yunus won the Nobel Prize for the work he had done with Grameen Bank. Inspired by the concept of micro credit, Smita Ram and her husband Ramakrishna NK, Co-founders of Rang De, built transparency and trust in the model, aiming to empower even the unbanked populations.
Talking to MAKERS India, Smita recollects the hurdles they faced in the initial days of Rang De as the concept was unheard of in India. It was not just the laws and regulations, but also earning the trust of stakeholders - especially women in rural India - that made it hard for the duo to mould Rang De.
Eight years after Rang De started, another big obstacle came their way in the form of Demonetisation, in November 2016. Smita tells MAKERS India about how it was a blessing in disguise that turned around the journey of Rang De.