Digital lending volumes rise 131% in FY23: Report

Digital lending volumes rose 131% year-on-year to nearly 73 million in FY23, a report by the Fintech Association for Consumer Empowerment showed on Monday.

“After increasing strongly in the first half of FY23, the disbursement volume degrew during the third quarter but moved to a positive territory in the last quarter,” the report said.

“The drop is a function of variable factors, including individual companies moving to different market segments, increasing ticket size and focusing on regulatory changes,” the Fintech Association for Consumer Empowerment (FACE) said.