New Delhi, Nov. 29 -- According to a report by the Fintech Association for Consumer Empowerment (FACE), during second quarter (July-September) of FY23 Indias digital lending market saw a sharp growth with regards to number of loans and the amount disbursed as compared to the year-ago period, reported Financial Express.
As per the data sourced from FACE members, the report noted 149 per cent growth in loans disbursed from 65.56 lakhs during Q2 FY22 to 162.95 lakh during Q2 FY23.
FACE is a representative body of 21 fintech lenders offering personal as well as business loans including credit to small businesses.
During the same period, the amount disbursed jumped 216 per cent from Rs 4,435 crore to Rs 14,016 crore.
The credit expans...