 "Digital loans soar on faster adoption by millennials, low-salary customers")
Fintech start-ups working in the unsecured consumer loan segment are gaining traction with rising adoption from millennials and hitherto ignored low-income salaried individuals.
Traditionally, banks and non-banking financial companies (NBFCs) disburse personal loans starting from Rs one lakh to individuals having salaries more than Rs 30,000 and a good credit score. They hardly venture into a segment where salaries are lower than this amount. Seeing an opportunity in this vast universe, most fintech firms are targeting consumers whose salaries are below Rs 30,000 and who have a less-than-desired credit score.
Also, these new age firms have tweaked their disbursals to
