New Delhi, April 11 -- The digital lending sector in India has grown significantly and attracted scammers which push digital lending applications to the market, states FACE (Fintech Association of Consumer Empowerment) in its latest report.

The report says that most borrowers take small valuepersonal loans from fintechs. Around 35 percent of loans are worth less than Rs.25,000. Loans which are worth between Rs.25,000 to 50,000 are nearly 14 percent and the remaining 51 percent of loans are worth more than Rs.50,000.

Those who are not aware of digital lending apps play an important role in maintaining an interface with customers to facilitate credit. These apps are owned by aregulated entity (RE) or a loan service provider such as a fint...