Small Businesses to Dominate India Peer to Peer Lending Market
Increasing number of mobile phones and rising internet penetration to drive India Peer to Peer lending market. According to TechSci Research report, “ India Peer to Peer Lending Market By Business Model, By End User, By Region, By Company, Competition, Forecast & Opportunities, 2024,” the India Peer to Peer Lending market is expected to grow at a CAGR of around 12% during the forecast period on account of an increasing number of small businesses looking for financial alternatives to fund their projects. Additionally, strict credit policies followed by the banks is driving customers to shift towards alternatives such as peer to peer lending. However, availability of lower loan amount and lesser security than banks can hamper the growth of market during forecast period. There is an increasing pressure on banks to lower their interest rates owing to the ongoing battle of securing a larger market share. Consequently, the future of the market could be dented due to the...