India’s digital lending market has grown exponentially in the last decade, from a modest $9 billion to nearly $270 billion in 2022. But the sector was largely unregulated. The digital lending guidelines, which took effect on December 1, 2022, are considered a proactive and progressive step by the Reserve Bank of India (RBI) as the […]
Digital Lending Trends in 2023: How Are Top Players Gearing Up?
The digital lending segment grew from 9 billion USD in 2012 to almost 150 billion in 2020. It is one of the fastest-growing fintech segments and is expected to reach a value of approximately 350 billion USD in 2023 in India. Factors like increasing digital adoption and the difficulty of accessing credit through traditional banking […]
Digital Lending’s Future: Secrets, Obstacles, and Success
India’s digital lending market is expected to grow to $1.3 Trillion in 2030, says Inc42. Technological growth, higher internet penetration and the tiresome loan application process in traditional banking establishments have pushed many towards digital lending. Moreover, customers’ demand for a faster and simpler loan application process has propelled lenders to go online and adopt […]
RBI’s Surveillance of Digital Lending Apps: Productive or Obstructive?
The Indian digital lending sector, an industry virtually non-existent nearly a decade back, has grown by leaps and bounds in the last three to four years. The market valued at $14 billion in 2013, is expected to reach $350 billion by 2023 and $1.3 trillion by 2030. An enormous credit demand in the economy fuelled […]
How Can Banks Unlock Sustainable Growth by Partnering With Fintechs?
Traditional banks have been around since the 14th century and have had a good run until now. However, the onset of new-age financial technology (fintech) firms has taken the financial world by storm. So, how have banks responded to the arrival of fintech companies? Do they see them as unwanted intruders? Are they willing to […]
New Digital Lending Guidelines and Their Impact on NBFCs
The fintech lending ecosystem in India was largely unregulated for a long time. A large section of the population that was ignored by the traditional banking industry received timely financial assistance, thanks to new technologies and innovative products. But the digital lending sector was beset with problems such as exorbitant interest rates, unrestricted employment of […]