India Digital Lending Market is in Growing Stage, Being Driven by Digitization in the country along with the presence of 100+ Players in the Industry: Ken Research
Buy Now Digital Lending Platforms are addressing the huge unmet demand for credit as the Market has grown @ CAGR 131.9% During FY’2017-FY’2022. To Know More on this report , Download free Sample Report India’s market for digital lending has grown from INR 116.7 billion in FY’2017 to INR 3,377.7 billion in FY’2022P. The growth is supported by the need for superior customer experience, emerging business models, faster turn-around time, and adoption of technology like AI. Customers are adopting digital avenues as a result of the rise in smartphone usage and internet penetration. Digital channels influence 40 to 60% of loan purchase transactions across loan types. 2. Loans through Digital Channels on NBFCs has increased from 0.6% in FY’2017 to 53.0% in Dec, 2020 owing to the rise in BNPL schemes and lower interest rates offered by the Lending Platforms. ...