RBI has released a report on digital lending through online platforms and mobile apps. Interesting datapoints and reccommendations on digital lending and neobanks too. Let me start with #Isaiditfirst line :) [Thanks to a kind soul for sharing this with me 🙂]
I have been reporting about how foreign lending players are entering India and borrowing NBFC licences. There are many NBFCs which were offering their NBFC as a service. I have been writing about this model since ET Prime days. One gfx that explains it better:
Now, coming back to the RBI paper. Some stats on digital lending.
Illegal loan apps.
BNPL share in types of loans is growing like crazy. The paper recommends: 'A separate product category in the consumer credit information file should be
created to report Buy Now Pay Later Loans.'
The paper suggest formation of SROs for digital loan apps. [Now, only time will tell if Nandan Nilekani is already onto it ;)]
Regulation for neobanks. This will surely get all the fintech founders and investors thinking 🤔
Will share some more soon...
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