In the last decade, the Indian economy has grown at an unprecedented pace. The use of modern technology and new policies have made some major changes in the system. If you ignore direct selling agents, the loan industry will cripple.
In this blog, we will try to find out the importance of DSA in India, the current situation they are in, facing those challenges, and making the best out of it. If you want to become a direct selling agent, this blog will surely help you in the long run. Look for a DSA partner app that can help you understand popular loan options and offer your customers the best service possible.
Understand the Current Situation of DSA in India
We, as a country, are going for the 5 trillion-dollar economy. As we have told you, direct selling agents are effective in achieving that. Here are some of the aspects that will help you understand the current situation of these agents in India-
- When there is a direct selling agent, you can learn about any financial products present in the market.
- Big banks and loan companies can’t reach the rural part of India. That’s why we must get efficient loan agents. They will help people understand effective loans and sell them at the mass level.
- Apart from loans, there are tools like debit cards, credit cards, and more. An agent will also sell these products using traditional and non-traditional ways.
Right now, the market is going through some changes. We will talk about them later in this blog.
Some of the Challenges That Agents Are Facing Now
When we are talking about the work of a loan agent, it is essential to understand some of the challenges that they are facing. Unless you know about them, it will be hard for you to deliver your best as an agent.
- People Know Very Little About Loans
The biggest problem that a loan agent faces in his work is the lack of knowledge in general people. If you talk to general people from India, you will understand that most of them don’t have much idea about financial tools available right now and use them the best way possible. Unless we promote financial education, things will not be better for sure.
- The Competition Is Increasing
Another issue that is evident is the rising competition in the market. So many different companies and agents are there who are selling loans. In this tough market, being successful is tough. You have to up your game in order to make your name in the organization.
- Regulation Issues
In India, the regulations are quite tough. RBI notices everything and is working towards data protection in our country. As a loan agent, you need to be aware of these laws and compliances. Stick to the regulations to avoid major complications.
- Lack of Technical Knowledge
Technology is a huge barrier in India. When most people don’t know how to use these modern technologies, you will surely feel disappointed. Fortunately, technical knowledge is improving in Indian people, and as an agent, you must help them, too. Talk to an expert to learn about DSA full form and more.
Use Current Strategy to Solve These Challenges
We are done with the potential issues you might face. Now, the time is right to learn about some tips on solving those issues and be the best at your work-
- Lending companies and the government should join hands to improve financial literacy in India. Once people know about possible loans and apply online, they can easily use those loan options and get the best results.
- The government is already making regulations easy for both the general public and the authorities.
- Fintech companies have made loans easy. Now, almost anyone can find possible loans and get the best deal possible.
- Incentive method is the reason behind doing the job. In the coming years, the percentage will increase and you will definitely get more money for selling these products.
What Can We Expect in The Near Future?
In the near future, we are going to make the following changes-
- The use of technology and AI will be more for sure.
- There will be a niche market for the loans.
Talk to experienced people to learn more about these things in detail.
