Role of Digital Lending in Serving Financially Excluded Individuals and Small Medium Businesses in India
- Title
- Role of Digital Lending in Serving Financially Excluded Individuals and Small Medium Businesses in India
- Creator
- Ravikumar T.; Murugan N.; Suhashini J.
- Description
- Financial inclusion has become a national strategy for the achievement of an inclusive economy and inclusive society in emerging countries. Access and continuous usage of formal financial services by the financially excluded people are known as financial inclusion. Financially excluded people are still there across the globe and in India. In India, although there are many supply-side and demand-side constraints for promoting financial inclusion, the vital constraint of financial inclusion is the inability of formal financial institutions to serve the unbanked and underbanked by adopting disruptive technologies for their business models and by developing and delivering innovative and customised financial products and services. Formal financial institutions embrace technologies such as Artificial Intelligence, Machine Learning, and Big Data Analytics for their operations in a gradual pace when compared to FinTech start-ups. But Digital Lending Start-ups make all the efforts to serve the unbanked and underbanked population through AI-powered alternative scoring methodology and customised digital loans. This article focuses on the process in which Digital Lending Start-ups serve the financially excluded individuals and Small and Medium Businesses in India. Further, this article analyses the growth, acceptance, future potential, and limitations of digital lending in India. 2024 selection and editorial matter, Satyajit Chakrabarti, Saikat Chakrabarti, Amit Kumar Bhandari, Dipak Saha and Rabin Mazumder.
- Source
- Perspectives in Finance and Digital Transformations in Business, pp. 211-217.
- Date
- 2024-01-01
- Publisher
- Taylor and Francis
- Coverage
- Ravikumar T., CHRIST, Deemed University, Bangalore, India; Murugan N., PSNA College of Engineering and Technology, Tamil Nadu, Dindigul, India; Suhashini J., PSNA College of Engineering and Technology, Tamil Nadu, Dindigul, India
- Rights
- Restricted Access
- Relation
- ISBN: 978-104001756-2; 978-103235874-1
- Format
- Online
- Language
- English
- Type
- Book chapter
Collection
Citation
Ravikumar T.; Murugan N.; Suhashini J., “Role of Digital Lending in Serving Financially Excluded Individuals and Small Medium Businesses in India,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 24, 2025, https://archives.christuniversity.in/items/show/18009.