The fintech company is offering EMI loans for students to purchase laptops, tablets and smartphones on Flipkart, while building their credit history
As schools across the country continue to remain shut amid the COVID-19 pandemic and education being imparted to students online, Eduvanz has partnered with Flipkart to bridge the gap of accessibility of learning devices such as laptops, desktops and smart phones for students.
Recommended ArticlesView All
New Locker Rules — Here's why the RBI has gone overboard
Jan 28, 2023 IST5 Min(s) Read
Meet Padma Shri Awardee Guru K Kalyanasundaram Pillai, the man who is keeping an ancient tradition alive
Jan 27, 2023 IST3 Min(s) Read
This is how the new draft IT rules propose to make online gaming safe
Jan 27, 2023 IST4 Min(s) Read
78 percent Indian workers uneasy about job security amid layoffs: Survey
Jan 27, 2023 IST5 Min(s) Read
The fintech company is offering EMI loans for students to purchase laptops, tablets and smartphones on Flipkart, while building their credit history.
The partnership is part of Flipkart's Back to College programme, which aims to fulfil the educational needs of millions of students as they begin virtual classes this year.
As per an NSO report, only one in 10,000 students in India has a computer-whether a desktop, laptop or tablet. However, almost a quarter of houses have internet facilities accessed via a fixed or mobile network using any device, including smart phones.
"Online education offerings for classes 1-12 are projected to increase 6.3 times by 2022 from the base of 2019," an industry report said, adding that the post K-12 market is expected to grow to touch $1.8 billion.
For Flipkart, nearly 40-45 percent of the demand for electronic essentials come from students.
Eduvanz CEO Varun Chopra said, "The pandemic has led to a tectonic shift in the Indian learning and education system. With the adoption of the phygital model, India is at the cusp of a technology driven learning revolution. On the upside, this device based delivery mode has provided the solution for pandemic induced challenges but the lack of affordable financing options has brought learning to a halt for millions of students across the country. As India's leading lender for learners, we are committed to making learning and education accessible to all. Through our partnership with Flipkart, we aim to cater to the digital learning needs of Indians across all categories."
The Indian online education sector is poised to grow to $8.6 billion by 2026 and the need for e-learning tools and gadgets is bound to increase exponentially as Indian learners will embrace the new mode of education.
Rakesh Krishnan, Senior Director of Electronics at Flipkart said, "We have been at the forefront of meeting the evolving needs of millions of our customers across the country and have established a platform offering the widest selection of products, doorstep delivery and affordable payment options. As the learning scenario in the country undergoes an overhaul, we are working with our partners to bring a variety of solutions for the students to enhance their learning potential in an affordable manner. In this pursuit, we are excited to partner Eduvanz to offer easy financing solutions to them in order to fulfil their online learning needs."
(Edited by : Jerome Anthony)
First Published: Jul 22, 2021 6:55 PM IST