As per Reserve Bank of India’s (RBI) financial stability report, the Indian banking system encountered approximately 6,500 incidents of fraud worth ₹30,000 crores in the year 2019 alone. The lack of due diligence in loan disbursal and credit defaults are the primary contributing factors to these frauds.
Agri-fintech is a $600Bn opportunity in India. Hemendra Mathur, Venture Partner at Bharat Innovation Fund  In the entire agriculture sector, which includes the livestock sector, informal lending constitutes 70% of all lending. The interest charged on this informal credit ranges between an astounding 24%-60% per annum. This takes
India’s livestock sector has an impressive contribution to the rural economy. Livestock provides livelihood to two-thirds of rural communities. It alone provides employment to 8.8% of the Indian population. India’s livestock market is one of the largest in the world and is showing incredible potential for growth.
With the growing internet accessibility and smartphone usage in India, the demand for convenient, efficient and flexible payment options has also increased. The consequential growth in e-commerce has created a need to bring together various participants of the financial services industry and e-commerce companies to create innovative payment and credit
Source: Inc42 - State of India Fintech Report Q1 2022 [https://inc42.com/reports/state-of-indian-fintech-infocus-bnpl-q1-2022-report/] Even a casual look at the graph above tells you what an exciting journey BNPL is having in India. As per an Inc42 report, Lending Tech itself is poised to grow to $616 Bn in
Pandemic has changed the way we pay. A 2021 McKinsey Global Payments report [https://www.mckinsey.com/industries/financial-services/our-insights/global-payments-2021-transformation-amid-turbulent-undercurrents] calls it “Enduring shifts in behaviour”. The pandemic reinforced major shifts in payments behaviour: declining cash usage, migration from in-store to online commerce, adoption of instant payments. 2021 McKinsey
Bank CEOs now 'think themselves as running technology companies, as much as they do about running financial companies' Bill Winters. CEO, Standard Chartered  [https://economictimes.indiatimes.com/news/company/corporate-trends/bank-ceos-now-think-they-are-running-technology-companies-bill-winters-ceo-standard-chartered/articleshow/90278013.cms] India is going through a Fintech revolution. With the world’s highest adoption rate of
The digital lending market of India stood at $75 billion in 2018 and is estimated to reach $350 billion by 2023, Statista [https://www.statista.com/statistics/1202533/india-digital-lending-volume/]. Interestingly, in the 2021 report—How India Lends [https://www.crifhighmark.com/media/2362/how-india-lends-fy2021.pdf]—CRIF High Mark states that
Co-operative Banks have always been at the heart of the economy but often face significant challenges. Stringent government regulations, the constant pressure to scale up business and reduce NPAs, a change and risk-averse mindset, as well as the legacy systems and processes hold back the speed of operations and the
At a time when India is reeling under the pressure of adverse economic impact created by the Covid-19 pandemic, it’s time banks and NBFCs collaborate to unlock the various business opportunities that could improve the credit off-take to the unserved and under-served sectors of the economy. While banks have