How will be the future of NBFCs and FinTechs in India?

163 views

The future of NBFCs is witnessing good growth in consumer lending. The liquidity position has improved and is gradually coming back to normal. In the future also, NBFCs will play a crucial role in economic development and in financial inclusion. Amid the Covid-19 pandemic in the country, fintechs have been at the forefront of India’s financial inclusion efforts. The usage of digital and contactless payments surged, as people opted for safer ways to transact financially. The FinTech sector is now becoming India’s fastest emerging sector and this sector is expected to touch over $150 billion by 2023. The fact is Fintechs are closely working with NBFCs and many of them have obtained the NBFC license. The key role of fintechs in financial inclusion is by making changes in the traditional business model of banks and financial institutions; it can deliver financial products and services to the financially excluded population in a more accountable and efficient manner in the least possible time. In a nation where banking was considered a privilege, fintech changed the lives of the common man. Where once to create trust in banks you had to take so much effort, now the world’s 40 per cent digital transaction is happening there. Digital payments touched a record high in 2020 with all channels from the Unified Payments Interface to the Aadhar-enabled Payment System (AePS) registering stellar growth. In 2022, 82% of financial companies state they are planning to increase their fintech partnerships, showing an overwhelming level of confidence in technology as the future of finance. According to a recent report by payment solutions provider ACI Worldwide, India made 48.6 billion real-time payments through 2021, ahead of China at No. 2. The rise was cited due to an increase in Unified Payments Interface and quick response code-based merchant payments, along with a boost in cashless payments. We have seen an exponential growth in digital lending which is poised to tremendous adopti.

You may also like

  • Watch How will be the future of NBFCs and FinTechs in India? Video
    How will be the future of NBFCs and FinTechs in India?

    The future of NBFCs is witnessing good growth in consumer lending. The liquidity position has improved and is gradually coming back to normal. In the future also, NBFCs will play a crucial role in economic development and in financial inclusion. Amid the Covid-19 pandemic in the country, fintechs have been at the forefront of India’s financial inclusion efforts. The usage of digital and contactless payments surged, as people opted for safer ways to transact financially. The FinTech sector is now becoming India’s fastest emerging sector and this sector is expected to touch over $150 billion by 2023. The fact is Fintechs are closely working with NBFCs and many of them have obtained the NBFC license. The key role of fintechs in financial inclusion is by making changes in the traditional business model of banks and financial institutions; it can deliver financial products and services to the financially excluded population in a more accountable and efficient manner in the least possible time. In a nation where banking was considered a privilege, fintech changed the lives of the common man. Where once to create trust in banks you had to take so much effort, now the world’s 40 per cent digital transaction is happening there. Digital payments touched a record high in 2020 with all channels from the Unified Payments Interface to the Aadhar-enabled Payment System (AePS) registering stellar growth. In 2022, 82% of financial companies state they are planning to increase their fintech partnerships, showing an overwhelming level of confidence in technology as the future of finance. According to a recent report by payment solutions provider ACI Worldwide, India made 48.6 billion real-time payments through 2021, ahead of China at No. 2. The rise was cited due to an increase in Unified Payments Interface and quick response code-based merchant payments, along with a boost in cashless payments. We have seen an exponential growth in digital lending which is poised to tremendous adopti

    Technology video | 163 views

  • Watch Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool Video
    Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool

    Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool

    Arvind Kejriwal All Interviews:
    https://youtube.com/playlist?list=PLiN7YZXz4nOc23gNiOivcdgeYUEpUUqlU

    Arvind Kejriwal All Townhalls:
    https://youtube.com/playlist?list=PLiN7YZXz4nOdQ-o4kATbxyeNHjD1SyT8n

    Arvind Kejriwal in Punjab Series:
    https://youtube.com/playlist?list=PLiN7YZXz4nOcJRxl8iqYDKsL26FKUvmSr

    Arvind Kejriwal in Goa Series:
    https://youtube.com/playlist?list=PLiN7YZXz4nOflmK5x_tdfrryxrSc3SBzm

    Arvind Kejriwal In Uttarakhand Series:
    https://youtube.com/playlist?list=PLiN7YZXz4nOcZ5TuqFQsJUmwRdNwvKsCT

    Arvind Kejriwal on Baba Saheb Ambedkar:
    https://youtube.com/playlist?list=PLiN7YZXz4nOfWtKqvMU22KihHk2jiUXdS


    Follow Arvind Kejriwal on Social Media :

    Follow Arvind Kejriwal on Twitter: https://www.twitter.com/ArvindKejriwal


    Follow Arvind Kejriwal on Facebook: https://www.facebook.com/AAPkaArvind/


    Follow Aam Aadmi Party on Facebook: https://www.facebook.com/AamAadmiParty


    Follow Aam Aadmi Party on Twitter: https://www.twitter.com/AamAamAadmiParty

    Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool

    News video | 2099 views

  • Watch FICCI Fintech Expo 2021 and Conference ‘Showcasing Indian Fintechs to the World’ Video
    FICCI Fintech Expo 2021 and Conference ‘Showcasing Indian Fintechs to the World’



    FICCI Fintech Expo 2021 and Conference ‘Showcasing Indian Fintechs to the World’

    News video | 312 views

  • Watch ET India Dialogues: NBFCs must reinvent and offer niche services for survival Video
    ET India Dialogues: NBFCs must reinvent and offer niche services for survival

    Participants at the ET India Dialogues said that NBFCs will have to reinvent themselves with niche offerings and consolidate for survival and growth. Umesh Revankar, CEO, Shriram Transport Finance and Jayesh Mehta, MD, Bank of America Merrill Lynch were among the panelists.

    ► Subscribe to The Economic Times for latest video updates. It's free! - http://www.youtube.com/TheEconomicTimes?sub_confirmation=1

    ► More Videos @ ETTV - http://economictimes.indiatimes.com/TV

    ► http://EconomicTimes.com

    ► For business news on the go, download ET app:
    https://etapp.onelink.me/tOvY/EconomicTimesApp

    Follow ET on:

    ► Facebook - https://www.facebook.com/EconomicTimes
    ► Twitter - http://www.twitter.com/economictimes
    ► LinkedIn - http://www.linkedin.com/company/economictimes
    ► Instagram - https://www.instagram.com/the_economic_times
    ► Flipboard - https://flipboard.com/@economictimes

    Watch ET India Dialogues: NBFCs must reinvent and offer niche services for survival With HD Quality

    News video | 275 views

  • Watch ET India Dialogues: Could we not have taken some radical measures on NBFCs? Video
    ET India Dialogues: Could we not have taken some radical measures on NBFCs?

    Taking part in a panel discussion “Can the budget reverse the slowdown?”, Niti Aayog Vice Chairman Rajiv Kumar and Power Secretary Subhash C Garg contended that the recent budget has done enough to spark a revival in the not-too-distant future. In a scenario where almost every sector and industry is slowing down, ET India Dialogues' first edition brings together experts and economists to decode possible routes to revive the growth engine. The panel discusses 'could we not have taken some radical measures on NBFC issue?'. Listen-in.

    ► Subscribe to The Economic Times for latest video updates. It's free! - http://www.youtube.com/TheEconomicTimes?sub_confirmation=1

    ► More Videos @ ETTV - http://economictimes.indiatimes.com/TV

    ► http://EconomicTimes.com

    ► For business news on the go, download ET app:
    https://etapp.onelink.me/tOvY/EconomicTimesApp

    Follow ET on:

    ► Facebook - https://www.facebook.com/EconomicTimes
    ► Twitter - http://www.twitter.com/economictimes
    ► LinkedIn - http://www.linkedin.com/company/economictimes
    ► Instagram - https://www.instagram.com/the_economic_times
    ► Flipboard - https://flipboard.com/@economictimes

    The Economic Times | A Times Internet Limited product


    Watch ET India Dialogues: Could we not have taken some radical measures on NBFCs? With HD Quality

    News video | 271 views

  • Watch ET India Dialogues: NBFCs doesn’t have to compete with banks Video
    ET India Dialogues: NBFCs doesn’t have to compete with banks

    Participants at the ET India Dialogues said that NBFCs should not compete with the banks and must turn to knowledge-based growth. Dinanath Dubhashi, CEO, L&T Finance and Nirmal Jain, Chairman, India Infoline (IIFL) were on the panel.

    ► Subscribe to The Economic Times for latest video updates. It's free! - http://www.youtube.com/TheEconomicTimes?sub_confirmation=1

    ► More Videos @ ETTV - http://economictimes.indiatimes.com/TV

    ► http://EconomicTimes.com

    ► For business news on the go, download ET app:
    https://etapp.onelink.me/tOvY/EconomicTimesApp

    Follow ET on:

    ► Facebook - https://www.facebook.com/EconomicTimes
    ► Twitter - http://www.twitter.com/economictimes
    ► LinkedIn - http://www.linkedin.com/company/economictimes
    ► Instagram - https://www.instagram.com/the_economic_times
    ► Flipboard - https://flipboard.com/@economictimes

    Watch ET India Dialogues: NBFCs doesn’t have to compete with banks With HD Quality

    News video | 417 views

  • Watch RBI Governor on PSB merger and lending mechanism with NBFCs Video
    RBI Governor on PSB merger and lending mechanism with NBFCs

    Talking of the current slowdown, he said signs were visible as early as February, and that 35 bps rate cut was necessary given the circumstances. Both counter-cyclical measures and structural reforms would be needed to tackle the slowdown, he added.On PSB mergers, Das said the exercise will create stronger entities because larger banks have greater leverage and reach.On bank interest rates, Das said the decision on spreads has now been left entirely to banks, to ensure faster transmission. The RBI didn't arm-twist any bank into adopting external benchmarks, he insisted.RBI hasn't asked any bank to lend or not lend to NBFCs; they will have to find market-based solutions to their problems, the Governor said.




    ► Subscribe to The Economic Times for latest video updates. It's free! - http://www.youtube.com/TheEconomicTimes?sub_confirmation=1

    ► More Videos @ ETTV - http://economictimes.indiatimes.com/TV

    ► http://EconomicTimes.com

    ► For business news on the go, download ET app:
    https://etapp.onelink.me/tOvY/EconomicTimesApp

    Follow ET on:

    ► Facebook - https://www.facebook.com/EconomicTimes
    ► Twitter - http://www.twitter.com/economictimes
    ► LinkedIn - http://www.linkedin.com/company/economictimes
    ► Instagram - https://www.instagram.com/the_economic_times
    ► Flipboard - https://flipboard.com/@economictimes

    The Economic Times | A Times Internet Limited product

    Watch RBI Governor on PSB merger and lending mechanism with NBFCs With HD Quality

    News video | 491 views

  • Watch ED files chargesheet against Razorpay, fintech firms and NBFCs #shortsvideo Video
    ED files chargesheet against Razorpay, fintech firms and NBFCs #shortsvideo



    ED files chargesheet against Razorpay, fintech firms and NBFCs #shortsvideo

    Technology video | 155 views

  • Watch rbi cancels licences of 368 nbfcs Video
    rbi cancels licences of 368 nbfcs

    ഈ വർഷം ജനുവരി മുതൽ ജൂൺ വരെയുള്ള ആറ് മാസക്കാലത്ത് 368 നോൺ ബാങ്കിങ് ഫിനാൻഷ്യൽ സ്ഥാപനങ്ങളുടെ [എൻ ബി എഫ് സി] ലൈസൻസ് റിസർവ് ബാങ്ക് റദ്ദാക്കിയത് . റിസർവ് ബാങ്കിന്റെ നിബന്ധനകൾ പാലിക്കാൻ കഴിയാതിരുന്നതാണ് ഇതിനു കാരണം.സ്വന്തമായി രണ്ടു കോടി രൂപയുടെ ഫണ്ട് വേണമെന്ന നിബന്ധനയാണ് പല സ്ഥാപനങ്ങൾക്കും കാണിക്കാന്‍ കഴിയാതെ പോയത്.ചില സ്ഥാപനങ്ങൾ ലൈസൻസ് സ്വമേധയാ സറണ്ടർ ചെയ്യുകയായിരുന്നു.

    News video | 1471 views

  • Watch Watch: Situation doesn
    Watch: Situation doesn't mandate RBI support to NBFCs, says Dy Guv Acharya

    The Reserve Bank of India on Wednesday said adequate measures are being taken to address the liquidity situation. Deputy Governor Viral Acharya while listing measures addressing liquidity noted that the current situation does not warrant any such step given the sound health of the economy. Watch

    ►Subscribe to The Economic Times for latest video updates. It's free! - http://www.youtube.com/TheEconomicTimes?sub_confirmation=1

    ►More Videos @ ETTV - http://economictimes.indiatimes.com/TV

    ►http://EconomicTimes.com

    ►For business news on the go, download ET app:

    Google Play - https://market.android.com/details?id=com.et.reader.activities
    iTunes - http://itunes.apple.com/us/app/the-economic-times/id474766725?ls=1&mt=8
    Windows Store -

    News video | 5916 views

Sports Video

  • Watch IND vs SA | World Cup T20 2024 | Final | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs SA | World Cup T20 2024 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs SA | World Cup T20 2024 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs South Africa in the World Cup T20 2024 season! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the South Africa, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of World Cup T20 2024. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs SA | World Cup T20 2024 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    Sports video | 9183 views

  • Watch IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Zimbawe in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Zimbawe, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Sports video | 995 views

  • Watch Office Fun Challenge: Guess the Cricketers? #office #crictracker #cricketlover ???? Video
    Office Fun Challenge: Guess the Cricketers? #office #crictracker #cricketlover ????

    Watch as our employees try to guess the famous cricketers from just a few clues. Can you beat them at their own game? Test your cricket knowledge and see how many cricketers you can guess correctly. Don’t forget to like, comment, and subscribe for more fun office challenges and cricket trivia! #CricketChallenge #OfficeFun #guessthecricketer #crickettrivia

    Office Fun Challenge: Guess the Cricketers? #office #crictracker #cricketlover ????

    Sports video | 1576 views

  • Watch IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Bangladesh in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Bangladesh, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Sports video | 1723 views

  • Watch IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Sports video | 1340 views

  • Watch IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 Final. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    Sports video | 988 views

Commedy Video