Fintech start-ups chug along the loan growth path as banks, NBFCs falter

Many customers are migrating from both public and private sector banks to avail credit through this route

At a time when credit growth at banks and non-banking financial companies (NBFCs) is losing steam, new age fintech lenders are showing no signs of slowdown fatigue. Instead, these app-only lenders have seen significant rise in their disbursals as more number of applicants are opting for loans from them. Top executives from fintech industry say not only does demand for loans remain robust, even fund flow from banks and NBFCs have improved after the market began facing a liquidity issues following the IL&FS crisis.

"During the past 6-7 months (post the IL&FS crisis), we have seen increased pace of loan