For the digital lending industry 2019 has been a banner year. To start with, the term “fintech,” broadly speaking, became part of the mainstream lexicon, and several startups moved up the valuation chain to attract series A and B funding. Tens of millions of new borrowers entered the formal credit ecosystem through easily availed personal loans, consumption loans or business loans to MSMEs (micro, small and medium enterprises) .
These transformational changes in India’s credit landscape occurred under the watchful and benevolent eye of a patchwork of regulators who displayed a welcome nimbleness in responding to an evolving landscape. However, the regulators occasionally failed to go that extra yard that the digital lending industry had hoped for.
Shivashish Chatterjee, Co-Founder & Joint MD, DMI Finance
