Revolutionizing Fintech Governance: The Digital Era of Regtech Solutions in India pc-tablet.co.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pc-tablet.co.in Daily Mail and Mail on Sunday newspapers.
The Indian FinTech ecosystem, the third largest in the world, is expected to reach a market size of US$ 150 billion by 2025. Digital lending has become a US$ 270 billion market in 2022. However, recent years have seen an increase in financial fraud and irregularities, leading to a lack of trust in the sector. The RBI has implemented regulations and guidelines to address these concerns, including registration requirements for FinTech companies and enhanced data privacy measures.
India is an under penetrated market when it comes to retail credit, even when Indian Fintech companies are witnessing substantial growth in loan disbursals. In the first quarter of this fiscal, these Fintech companies disbursed a total of 22.2 million loans, growing 30.6% from the previous year, said a report by Fintech Association for Consumer Empowerment (FACE).