There is a shift in the credit landscape.
In the last quarter of FY 23, both Public Sector Banks and Private Sector Banks saw a surge in credit demand, registering a growth of 1.3 times compared to the previous year.
But here’s the twist.
NBFCs are not far behind. Infact, Their credit demand skyrocketed, growing 1.5 times over the previous year.
This makes them formidable competitors in the commercial credit domain.
This isn’t just a trend—it’s the future. Thus, what’s driving this surge in credit demand?
1) A boost in business activities.
2) Access to enriched credit data.
3) A swift shift towards adopting digital lending.
So, If you’re in the lending sector, now’s the time to leverage digital lending to stay ahead of the curve. The rapid growth indicates a changing trend that could reshape the credit market.
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