The digital lending sector in India is experiencing an inflection point after years of challenges. Industry-level NPAs are decreasing, credit demand is increasing, and investors are showing interest in the sector again. Fintechs have dominated the unsecured lending space, with the market share of fintech lenders in the personal loans sector increasing from 13% in 2018 to 47% in 2023.
Aye Finance, a non-bank lender, aims to increase its borrowing by 70% to Rs 3,400 crore in FY24 compared to Rs 2,000 crore in FY23. The company has already raised Rs 2,100 crore of debt and is confident of meeting its target. It has secured funds from both global and Indian banks and financial institutions.
Should you invest in Wint Basket? - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.