Fintech
Fintech personal loan size declines as youth borrowing increases: RBI report
Average ticket size From personal loans provided by fintech has steadily declined over the past two years, as the percentage of young borrowers increases, according to a report on the currency and finance from the Reserve Bank of IndiaFifty-nine per cent of total loans disbursed by fintechs were to users below the age of 30 and the average ticket size of personal loans fell to Rs 9,861 in the first half of FY24 from Rs 10,955 in FY22, according to RBI ReportHowever, crime rates are higher among younger age groups.
With the rise in personal loan penetration in semi-urban and rural areas, there has been a wide gender gap, as the share of women borrowers was only 14% as of September 2023, compared to 13% two years ago.
Financial Technology Loan disbursements mainly include personal loans followed by corporate and consumer loans. They mainly cater to small value personal loans with 68% of personal loans falling in the below Rs 5,000 category in 2022-23.
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