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Digital loans grow 43% in Q2

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Digital Loan Do not be ignorant of the advantages and disadvantages  associated with digital loan | Digital Loan से जुड़े फायदे और नुकसान से ना  रहें अनजान, वरना लग जाएगा लाखों का
  1. Digital loans experienced a significant surge during the September quarter, growing by 43%, as reported by the Fintech Association for Consumer Empowerment (FACE), an industry body representing digital lenders.
  2. FACE member companies disbursed 2.4 crore loans during the second quarter of the financial year 2024, showcasing a notable 39% increase from the same period in the previous year and a 10% growth from the preceding quarter.
  3. The disbursement value of these loans surged by 43% to Rs 31,692 crore in Q2 FY24 compared to Rs 27,673 crore in the corresponding period last year, with more than three-fourths of companies reporting positive annual growth.
  4. The total assets under management (AUM) for fintech lending companies reached Rs 36,169 crore, with 69% on-balance sheet and rising to 79% for companies operating with their own NBFC.
SourceTOI

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