India, May 20 -- Digital lending has gradually become the future of finance with minimum documentation and instant access to credit. According to recent stats, fintech companies disburse Rs 10 Cr in loans during FY24, documenting a 35% increase compared to the previous year. By leveraging technology, digital lending companies solve the problems plagued by traditional finance and tap into the underserved segments of the population which may have been excluded from traditional systems. The digital-first approach in the lending space unveils a plethora of immense growth opportunities to offer greater convenience for borrowers and improve financial inclusion.

India has a higher fintech adoption rate of 87% with 13,500 companies, which far su...