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Money India launches a news website on consumer finance

Tue, 01 Jan 2008 ANI

Hyderabad, Oct 01 (ANI/Business Wire India): Venturian Media Limited a leading global online publishing and marketing company today announced the launch of their Indian consumer finance news and comparison site which offers free and comprehensive tools for helping consumers to make better and faster choices when searching for the right product to suit their needs.


Ross Travill, Marketing Director at Venturian said: "Our model is based on simplicity and offering a faster route to product application. Today's lifestyle means that consumers often need to make decisions quickly and don't have the time to look at multiple, often confusing offers meaning they end up with an unsuitable product. Our smart comparison tools cut through the noise and give the facts on the best products available saving our user's time as well as money."


The site launched earlier this month and has already established itself as the number one destination for Indian consumers looking to find the cheapest and latest offers on credit cards, loans, insurance and banking products with its instant popularity proving to be a draw for India's largest financial services companies looking to feature their products.


Agreements have been signed already with Kotak, ICICI, Barclays, Deutsch Bank and Tata AIG with many more in the pipeline. Money India is expecting complete coverage of the Indian marketplace by early next year with their impartiality and commitment to best practice ultimately benefiting the consumer.


Additionally, a dedicated news team based in Hyderabad and headed up by Sharat Prabhakar, a former Manager for South East Asia at New Corporation will be providing interactive news, insight and analysis aimed to appeal to a broad cross section of readers from educating the layman to professional and topical debate on the issues faced by the industry.


Mr Prabhakar commented: "There is a lot of disinformation in the marketplace meaning that too often people are entering in to unsuitable credit arrangements, ultimately leading to a vicious cycle whereby borrowers default and therefore lenders are more likely to keep interest rates higher in order to compensate. Our aim is to educate consumers in to making sensible choices by only working with reputable lenders. By making people aware of the small print before they apply this will be beneficial to all stakeholders."


Whilst the Indian retail banking sector is still not as evolved as some other nations Prabhakar feels that Money India has launched at exactly the right time for the consumer with an increasing presence from Global lenders and the relaxing of previously tight anti-competition legislation - "Competition is finally increasing here too which is great news for the consumer providing they're properly educated. Even government owned banks are waking up from a deep sleep and finding that in order to survive in this brave new world where customer is king they need to compete." (ANI)


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