Credit mkt to be $350 bn this yr

Mumbai Financial Services Secretary Vivek Joshi on Tuesday said the credit market, led by the digital lending segment, is on course to grow to $350 billion (Rs3 lakh crore) by the end of the year.

The digital lending segment stood at $270 billion at the end of 2022, Joshi said on the opening day of the fifth edition of the global fintech festival here. The official also said the country’s fintech market is slated to grow three times to $150 billion by 2025-end from $50 billion in 2021. About 800 speakers and 50,000 delegates are attending the three-day global fintech summit.