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Digital Retail Lending to Become $1 Trillion Industry in 5 Years: Report
July 27, 2018
According to a new report by Boston Consulting Group (BCG), retail lending in the digital space in India might cross the $1 trillion mark in the next 5 years as the digital disbursements continue to grow 500% every year.
The report said that digital retail lending has exploded in the country especially considering that the traditional lenders have also joined the market to compete with new-age fintech firms.
Alpeh Shah, director, BCG India said that around 50% of loan seekers applied for or borrowed a loan via the Internet in the last 12 months.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY
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