Fintech may bear the brunt as RBI comes down hard on unsecured credit| Trending Viral hub

Last week, Mint Road slammed the brakes on the rampant growth in consumer credit. Regulated entities (RE) will now have to review their exposure to the segment, “in particular” unsecured credit. Supplemental loans against assets “intrinsically depreciable in nature” (such as vehicles) will be treated as such. Real estate companies must comply with the diktat no later than the end of February 2024. But what has gone relatively unnoticed are the loans granted by fintech, a good part of which also fall into the unsecured category. The Center for Advanced Financial Research and Learning (Cafral) maintains that fintech companies have captured a substantial part of the retail and consumer market. Its loans are expected to “outperform traditional bank loans in

First published: November 19, 2023 | 23:58 IS

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