New Delhi, May 30 -- India's Fintech sector continues to grow rapidly and is now entering a new phase focused on product diversification, smarter risk management, and deeper financial inclusion, according to a report by TransUnion CIBIL

The report mentioned that as of December 2024, Fintech lenders, defined as digitally driven NBFCs, had an outstanding loan balance of Rs 1.3 trillion, marking a significant 32 per cent year-on-year growth.

Though they currently contribute only about 1 per cent of total industry loan balances, their dominance in small ticket personal loans (STPLs) is striking. Nearly 89 per cent of personal loan originations under Rs 50,000 were issued by Fintech lenders.

The report said, "Business loans and property loa...