The digital lending industry has proliferated over the years and now plays a critical role in driving the country’s economic development. According to an EY report, India’s fintech market will be worth $200 billion by 2030, up from $50 billion in 2021. The fintech sector is bridging the gap in providing banking services to last-mile […]
The booming fintech ecosystem in India has led to the emergence of countless companies that offer various credit services. However, despite its benefits, this expanding fintech vista has also led to the proliferation of unregulated digital lenders conducting unethical business, excessive third-party engagement, and rising risks to digital privacy. Moreover, unjust interest rates and inhumane […]
Indian fintechs have made rapid gains in the payments space over the past few years because of UPI, which has led to a significant increase in fintech investment in India. Approximately $135 billion were transacted monthly through UPI (as of June 22), 9 times more than credit cards, which have been around for over 40 […]
BNPL stands for Buy Now Pay Later. It is a payment service that allows customers to postpone their final bill for some time, even after buying something. As the name implies, consumers may want to make a purchase before payday, and BNPL enables them to buy things without making full payment immediately. According to GlobalData, […]
According to Statista, the digital lending market has grown from 9 billion dollars in 2012 to nearly 150 billion dollars by 2020. It is projected to reach around 350 billion dollars by 2023. Along the same line, many experts believe 2023 will be a game changer for digital lending in India. This could be attributed […]
The banking industry has undergone a major digital transformation and has implemented cutting-edge technology after the Covid-19 pandemic. As a result of the recession and barriers to in-person channels, financing requirements have changed dramatically. A better client experience, faster turnaround time, and the use of artificial intelligence and machine learning have all contributed to the […]
The traditional banking sector in India has always been highly regulated. While this approach has created a haven for millions of consumers to meet their financial needs, it has also served as a barrier, keeping many outside the purview of the banking system. However, digital lending has emerged as a disruptor at scale. As of […]
Over the last few decades, non-financial banking companies (NBFCs) have become an essential part of the Indian financial system. Despite a lacklustre beginning in the 1960s, currently a significant number of business owners and retailers prefer taking loans from NBFCs over conventional banks. The arrival of NBFCs has transformed the business loan landscape in India. […]
A report by the Reserve Bank of India (RBI) refers to the Non-Banking Financial Corporations (NBFC) as a “steady ship in choppy waters”. According to the report, the NBFC sector’s consolidated balance sheet exhibited double-digit growth in the quarter ending in December 2021. Credit disbursement also grew at a steady rate. In 2020, 60% of […]
The advent of technological innovations has radically changed customers’ banking habits. The widespread adoption of digital lending and payment methods following Demonetisation signalled the rise of India’s fintech-led Banking, Financial Services and Insurance (BFSI) system. Lending was the next banking activity to move to the digital space. The Indian digital lending market grew from a […]
