New Delhi, Jan. 27 -- Banking is at the heart of any nation's growth. When democratised, it becomes a financial engine capable of uplifting the masses on a large scale. The Indian banking industry is currently at a significant crossroads.

It's struggling to reinvent itself in the face of rapidly scaling fintechs, who are fast capturing the untapped customer segment. PwC's research shows that from FY21 to FY24, the number and value of loans disbursed by fintechs have grown by a CAGR of 81% and 46%, respectively. This growth has been facilitated by fintech entities harnessing technology to extend their reach, streamline operations through automation and enhance credit accessibility. These players have been offering a broad spectrum of loan...