Fintech firms are back to business by wooing audience in small markets

Sector's growth mirrors growth in the broader credit market but it faces greater regulatory scrutiny

Did you know that fintech lenders gave out Rs 29,875 crore in loans in Q1 of financial year 2023-24 (Q1 FY24), up year-on-year by 81.41 per cent? This is contrary to the widely held view that these firms have been caught flat-footed after Mint Road came out with a raft of regulations to cut down on regulatory arbitrage, and put in place a best practices framework. A caveat is in order though: The latest lending data put out by the Fintech Associa­tion for Consumer Empower­ment (FACE) is linked to the booksize of its members; as it goes up, so do