White paper

The Regulatory Landscape of Digital Lending in India: What Needs to Change?


Why should you read this?

Digital lending in India has seen exponential growth in past few years from nine billion U.S. dollars in 2012 to nearly 110 billion dollars in 2019. It was expected that the digital lending market would reach a value of around 350 billion dollars by 2023. Digital lending in India is a nascent but persistent sector, pounded by disruptive market forces over the past few years.

Categorized as distinct from banks, digital lenders and lending FinTech start-ups typically struggle with strict regulations, prohibitive compliance costs, a dearth of robust technology solutions, and the incidence of cyber-crime. To give a fillip to digital-first lenders, the Reserve Bank of India (RBI) has revised some of its guidelines, allowing digital capabilities for customer onboarding and know your customer (Digital KYC) processes. This whitepaper particularly covers the following:

  • Examines the current state of the digital lending market within India
  • It highlights the KYC norms and amendments for digital lending and non-banking financial institutions (NBFCs) within India.
  • It mentions the necessary measures to activate these regulations and drive the promised efficiencies and growth for India’s digital lending players.

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