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ICICI Securities Report
Total global alternative credit (i.e. credit through fintechs and bigtechs) in 2019 stood at $795 billion, of which share of fintechs stood at $223 billion and bigtechs $572 billion.
In India, lending through the digital mode is still in a nascent stage at Rs 1.1 trillion for banks versus Rs 53 trillion via physical mode.
For non banking financial companies, the share of digital lending stood at Rs 0.23 trillion versus Rs 1.9 trillion via physical mode.
The Reserve Bank of India's working group on digital lending presents interesting insights on player-wise, product wise and tenure-wise lending via digital mode.
While banks have been increasingly adopting innovative approaches in digital processes, NBFCs have been at the forefront in digital lending.
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