Stringent RBI regulations have forced fintechs, which once experimented with buy now pay later (BNPL), to pivot into more robust business models. BNPL will continue to survive but only with guardrails
The Reserve Bank of India (RBI), over the past 18 months, has done enough to ensure that there are curbs on uncontrolled credit growth, particularly in the unsecured consumer and personal loans space. This is the segment which India’s youth is tapping to meet their aspirational needs, seeking short-term loans, demand for which have spiralled post the pandemic.