mPokket to provide scholarships to 4000-plus college students across India
· Initiative to financially empower college students across the nation
· The beneficiaries have already started witnessing the impact of the initiative, with more than 40 students having successfully received scholarships since February.
National, 09 March 2021: Continuing with its vision to empower youth, mPokket has announced the launch of a special scholarship initiative for college students.
As the COVID-19 pandemic has severely hit many people pan-India, the initiative aims to help students manage financial challenges during these troubled times. More than 40 students have already benefitted from the program, with the aim to reach out to thousands more.
Founded in 2016 by Gaurav Jalan, mPokket has launched the scholarship to bridge the financial gap for many students in meeting academic or related expenses. The Company announced its CSR initiative as part of the campaign to boost financial inclusion. mPokket’s mission is to improve the lives of underserved new-to-credit individuals who lack access to credit from traditional financial institutions, providing instant access to cash for urgent requirements.
Discussing the initiative, Gaurav Jalan, CEO & Founder – mPokket, said: “At mPokket, we have always believed in empowering the youth. Towards this end, the scholarship will help students in India defray some of their educational expenses. Education enables the youth to build a better tomorrow. Hopefully, the initiative will help them continue their studies in these tumultuous times.”
Being a completely digital offering, students don’t need to submit any hard copies of documents. They simply have to upload proofs pertaining to their financial status, academic scores, and faculty recommendation onto the mPokket mobile app.
mPokket is an Instant Loan App providing loans to eligible college students and young working
professionals. Founded by Gaurav Jalan in 2016, the Company has grown today to serve more than 1.4 million borrowers.
Borrowers can avail loans ranging from Rs500 to Rs20,000. After an initial KYC process, the approved amount is instantly credited either to their bank account within minutes. mPokket’s business model is similar to credit card lending but focuses on individuals that are ineligible to borrow from traditional lenders yet need loans to meet urgent needs. The mobile application seamlessly delivers credit anytime anywhere.
mPokket is an Instant Loan App that provides loans to college students and young working professionals. Borrowers can avail loans ranging from Rs. 500 to Rs. 20,000 and the amount is sent via instant credit to bank account or Paytm wallet. The borrowing limit will keep increasing over time based on multiple factors, including timely loan repayments. You can choose to repay in up to 3 months along with a nominal interest charge.
mPokket was started back in 2016 with the vision to improve the lives of those who need quick cash for an urgent need but do not have access to credit cards or other means of formal borrowing. Our customers do not need to submit any physical documents or visit a branch to get instant personal loans. They just need to apply online on our mobile App. Read more visit https://mpokket.in/about-us/