Digital lenders’ disbursement grows 2.5 times to Rs 92,848 crore in FY23

Fintech lenders’ disbursements grew two and half times year-on year (YoY) to Rs 92,848 crore in the financial year ended March 2023 (FY23), reflecting strong demand amid economic growth.

Disbursements were Rs 35,940 crore in FY22 and Rs 13,461 crore in FY21. Fintech Association for Consumer Empowerment (FACE) said in a statement that given the low base and huge demand, the digital lending industry remains in an expansive phase. Growth in disbursement value improved though the pace slowed in the second half of FY23.