With an aim to ease the financial burden of medical treatment on the economically weaker sections (EWS) of the society, Arogya Finance, a social healthcare venture, has launched Arogya Card in Mumbai with the facility of a pre-approved loan of up to Rs.2 lakh. Anyone with a monthly income of or below Rs.7500 can avail the facility.<\/p>\n
\u201cUnexpected healthcare shocks are leading over 40 million Indians to poverty every year. Arogya Finance has taken a step to bridge this gap by launching the Arogya Card that offers pre-\u00adapproved loans at reasonable terms by making it available at the right time and place of need to those who lack collateral or formal income proof,\u201d said Jose Peter, Co-\u00adfounder and CEO of Arogya Finance. He described the facility as a one-stop financial solution for people in need whenever and wherever there is an unforeseen medical emergency.<\/p>\n
The\u00a0Arogya\u00a0card\u00a0does\u00a0not\u00a0require\u00a0collaterals\u00a0or\u00a0formal\u00a0income\u00a0proof\u00a0which\u00a0is\u00a0mandatory\u00a0in\u00a0other\u00a0forms\u00a0of\u00a0financial\u00a0assistance. Arogya\u00a0Finance\u00a0offers\u00a0a\u00a0pre-approved loan and makes it easily available within 24 hours. \u00ad<\/p>\n
The\u00a0card\u00a0offers\u00a0medical\u00a0loans\u00a0to\u00a0the\u00a0traditionally\u00a0un-\u00adbankable, using psychometric tests as an innovative risk assessment tool, which enables evaluation of the credit risk profile of people outside the formal banking system.<\/p>\n
The\u00a0borrowers\u00a0can\u00a0repay\u00a0the\u00a0loans\u00a0in\u00a0easy monthly instalments of up to 36 months and is calculated in a way that it does not exceed 25 per cent of the total family income.<\/p>\n
Dheeraj\u00a0Batra,\u00a0Co\u00ad-founder and VP of Business Development at Arogya Finance said, \u201cwith the launch of the Arogya Card, we are creating a lifeline of people in India facing poverty due to ti high expenses incurred on healthcare.<\/p>\n
Our\u00a0Cumulative Collection\u00a0Ratio\u00a0is\u00a0very\u00a0high\u00a0at\u00a096\u00a0per\u00a0cent\u00a0and\u00a0shows\u00a0the\u00a0robustness\u00a0of\u00a0our\u00a0methodology\u201d. Arogya\u00a0Finance\u00a0has\u00a0been\u00a0recognised\u00a0as\u00a0one\u00a0of\u00a0India\u2019s\u00a0most\u00a0unique\u00a0social\u00a0innovators\u00a0by\u00a0International\u00a0Partnership\u00a0for\u00a0Innovative Healthcare\u00a0 Delivery\u00a0 (IPIHD),\u00a0 an\u00a0 organization\u00a0 founded\u00a0 by\u00a0 McKinsey,\u00a0 USAID\u00a0 and\u00a0 the\u00a0 World\u00a0 Economic\u00a0 Forum\u00a0 and\u00a0 Social Entrepreneurship\u00a0Accelerator\u00a0at\u00a0Duke\u00a0(SEAD).\u00a0With\u00a0over\u00a0100\u00a0healthcare\u00a0delivery\u00a0partners\u00a0and\u00a0presence\u00a0in\u00a09\u00a0states,\u00a0Arogya\u00a0plans\u00a0to implement\u00a0the\u00a0concept\u00a0of\u00a0Arogya\u00a0Card\u00a0across\u00a0the\u00a0nation.<\/p>\n
Apart\u00a0from\u00a0Mumbai,\u00a0the\u00a0company\u00a0is\u00a0going\u00a0to\u00a0launch\u00a0the\u00a0card\u00a0in\u00a0other\u00a0parts\u00a0of\u00a0cities\u00a0as\u00a0Delhi\u00a0NCR,\u00a0Ahmadabad,\u00a0Kerala,\u00a0Hyderabad, Maharashtra,\u00a0Bangalore,\u00a0Calicut,\u00a0Pune\u00a0and\u00a0Coimbatore.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Arogya card does not require collaterals or formal income proof which is mandatory in other forms of financial assistance. Arogya Finance offers a pre-approved loan and makes it easily available within hours. <\/p>\n","protected":false},"author":1,"featured_media":179,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"jetpack_featured_media_url":"https:\/\/arogyafinance.com\/blog\/wp-content\/uploads\/2023\/05\/dsc-1529jpg_XG4xo.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/posts\/100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/comments?post=100"}],"version-history":[{"count":0,"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/posts\/100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/media\/179"}],"wp:attachment":[{"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/media?parent=100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/categories?post=100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arogyafinance.com\/blog\/wp-json\/wp\/v2\/tags?post=100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}