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Vaibhav Kulshrestha

Director of My Mudra FinCorp
A Young & Energetic Business Tycoon - 35 year old is disrupting the loan market business in an old-fashioned way Over the years, Kulshrestha has been the market evolve and, in the process, his business, too. He has silently transformed My Mudra into a large, profitable DSA or loan marketplace (A term made popular by the Bank Bazaars and Paisa bazaars of the world).
Initially , Kulshrestha , along with his five employees, was acquiring credit processing for most secured and unsecured loans. He initially focused on Delhi. In a few years, unsecured business loan, unsecured personal loans, and home loans became stable businesses. The company today brands itself as My Mudra, but the industry, NBFCs, and bank partners still know it as MMF. Isn’t it quite an unimaginative name ? Kulshrestha agrees. “I did not even think how big it will become, there was no plan, no vision. Otherwise, I would have planned some fancy names.” At that point in time, these were not popular channels for loan products, unlike now. It was also not easy for banks to recover money from clients. It was also not easy for banks to recover money from clients. It was difficult back then to enter residential colonies for collections, recalls Kulshrestha , adding that banks used to get a bad name for sending toughs to collect money. But then retail banking developed over five years and products were also refined. Today, unsecured personal loans and credit cards are the largest profit centers for most large banks. Over the last three decades, Kulshrestha says, he has seen people’s financial behavior and requirements change, and also the way in which the banking sector courts individual customers.
“The ride may have been bumpy, but the graph was always going up, “he adds. The company, which works with over 75 banks and NBFCs, claims to have processed INR 10000 crore worth of loans till date. Most officials say the company is a fairly large corporate DSA in India and generates decent business for them, but did not reveal numbers, except a Lending kart official, who says that My Mudra does around INR 200 crore monthly disbursement for it.