Kisht’s year-end commentary


In recent years, in the fintech industry, technology-driven digital lending has played a critical role in bridging the gap between demand and supply of credit. The industry grew faster before the pandemic hit the global economy. Like any other industry, the digital lending industry experiences a jolt at the start of the foreclosure. Various measures to curb the pandemic and measures to revive the economy have helped the industry rebound. The response from regulators and Niti Aayog has been overwhelmingly positive. We ask them to continue their engagement with fintech lending players allowing the industry to define the right policies. The law of smart policies will help serve the underserved and unserved masses of the nation. The sector will seek to create new products on the scalable architecture built with initiatives such as Account Aggregator. We believe this will revolutionize the lending industry in a similar way to what UPI has done for AEPS payments and withdrawals in rural India.

During the pandemic lockdown, the country has seen a surge in internet data consumption and digital payment usage. Awareness of the benefits such as ease and convenience of digital use has pushed access to credit through digital mode. As lockdown eases continue to occur, the future outlook for the digital lending industry looks very positive, with consumers embracing the new normal and integrating ‘digital’ into their daily lives.

Commentary from: Ranvir Singh, Co-Founder and CEO, Kisht


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