How online personal loans are changing the whole financial industry?
Hero Fincorp06 Jun, 2022Business
Over the last few years, online personal loans are rapidly taking over the financial industry. The shift in consumer behaviour and government initiatives have made this loan popular among millennials. According to Reserve Bank of India data, overall digital lending increased more than twelvefold from 2017 to 2020. In terms of figures, the total digital disbursement in 2020 was Rs 1,41,821 crore, up from Rs 11,671 crore in 2017. Out of these disbursements, the majority are personal loans.
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