'Unsecured credit growth slows but demand remains strong': Fibe co-founder

Digital lending company Fibe sanctioned 46.6 million loans in H2FY24, showing an 8.4 per cent increase from H1FY24. The firm has raised a total of $228 million in funding since its inception in 2015

Even as the rate of growth for unsecured credit continues to moderate for most fintech companies after the Reserve Bank of India hiked risk weights last year, the demand of such financial products continues to remain strong. 

Data from a report by Fintech Association for Consumer Empowerment, a self-regulatory organisation in the fintech sector (SRO-FT) reveal that the volume of loans sanctioned had slowed down in the second half of the financial year 2023-24 (H2FY24). 

Around 46.6 million loans were sanctioned in H2FY24, an 8.4 per cent increase from 43 million loans in H1FY24. In comparison, loan volumes had