2022 Trends In Digital Lending
Technological innovations have led to marked improvements in efficiency, productivity, quality, inclusion and competitiveness in extension of financial services, especially in the area of digital lending. Digital lending is one of the fastest-growing fintech segments in India and it grew exponentially from a volume of U.S. dollars 9 billion in 2012 to nearly 110 billion dollars in 2019. It is further expected that the digital lending market would reach a value of around 350 billion dollars by 2023. This business was mainly covered by fintech startups, neo banks and Non-Banking Finance Companies (NBFCs). Commercial banks are also fast joining…