RBI's digital lending guidelines: A tectonic shift in the fintech world

With the central bank having issued new guidelines governing the lending activities of financial technology firms, some may find themselves fighting for survival

A term which I see bandied about by fintechs is ‘white spaces’. It’s a reference to the fact that banks have legacy burdens, and so, fintechs will have the road to themselves,” says Romesh Sobti, the former boss of IndusInd Bank. He reckons banks have largely closed this gap vis-à-vis fintechs, and can take the game to them.

“I have long held the view that it’s only a matter of time before Mint Road sets the ground rules,” adds Sobti, who in his new avatar wears two hats — he is operating partner at Advent, and an advisor to Multiples,