Wondering where your salary money is going? Find it difficult to manage your spending?
11rupees, a newly launched startup can potentially help you manage your spending.
Once you register, link your account with your bank account (supports all the major banks) and then 11rupees can track all your spendings.
The site is currently in private beta (you need an access password to register).
The registration page throws “ServletException” – am not too sure whether 11rupees can also track credit card expenses.
This is surely an interesting concept and we will keep track of 11rupees.
What sort of feature would you like to see in a portal like this?
tags: 11rupees
Yes we needed a mint (mint.com) for India as well. looks great right now
Waiting to see if they go a step further with some more features, or do they become just another Indian-ized version of mint.
Interesting concept and seems like a mint.com copy but its success depends upon how they tackle the security question
I think it is a copy of mint.com. One major question is how do they tackle the security and privacy issues. Trusting a startup with sensitive data is a huge decision to make.
Ashish,
Thanks for posting about us on your blog. We are still in development and would love to hear from internet community. Please feel free to drop us a line at support at 11rupees com
1. why do i need to go online to submit my financial details, wheni can do a far better job using downloadable open source software.
2. i dont think i’ll trust guys with sensitive information, if they cant manage a simple 4 page website and keep links working properly.
Vishal,
Not everybody is an expert and can do with open source stuff. Trusting the 11rupees guys with sensitive info is definitely a problem but as mint.com is currently doing it in the US, there is scope for this to be addressed. As for the website not working i think its early days for the company and they will improve (BTW i like the design). Overall i think the idea has merit and needs to be executed.
Take a look at Yodlee.com. This company is behind mint.com and offers similar service for Indian market.
They have many Indian banks and Credit Cards.
@ Vishal: What we think private is not not really private. I was warned by a financial professional that one can get info on you and your financial details (like tax returns etc.) using “RTI” by paying few hundred rupees to concerned govt. authorities.
These kind of financial planning tools make a lot of sense.. I had saved few tends of dollars in fines using mint.com while in US.
However it is a personal choice.
Gupta
This is a really cool concept. I am in the US and have seen the success of Mint.com here. I think in India it will take some time to win the trust, but the utility is great and folks will catch up. What I wonder is – does the financial institutions in India have a standardized platform that 11rupees might have leveraged – something like OFX in US? Or is it a custom integration with each of the banks that they are going to support initially? Any feedback will be appreciated.
Any Idea what happened to thos startup?.. Stealth mode for such a long time