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Xiaomi Launches App to Offer Credit to Millennials in India

Xiaomi, the top smartphone vendor in India , today joined a growing wave of fintech startups in the nation that are offering credit to aspirational young professionals and millennials. The Chinese electronics giant said today it is launching Mi Credit, its curated marketplace for digital lending, which offers users credit between Rs 5,000 ($70) and Rs 100,000 ($1,400) at “low” interest rates. Prior to its availability in India, Mi Credit was launched in China.”