OpenTap is a FinTech company providing alternate finance - peer to peer lending services for the middle to low income group demographic. OpenTap is working towards financially including blue collar workers whose salary ranges from INR 6K to INR 20K a month. They have little or no accumulated savings, and like others, have planned / unplanned financial requirements.
Banks find this population commercially unviable, consequently the services offered by them are also very limited and in many cases, non-existent. As a result, this population unfortunately use their banks only to withdraw money. So, when an emergency knocks, they turn towards alternate sources of finance which are limited, unregulated and risky.