What you need to know: The SME lending market is worth $300 billion in India and 10% of it is digital finance. After demonetization, about 1000 SMEs took advantage of online credit products that allowed Capital Float, a working capital loans provider, to experience 400% growth both in number of customers and loan value. Capital Float expects to grow 500% in 2017 and increase customer base by 600%.
Why this is important: The growth of digital lending in India is exemplar and it helps SMEs, especially in poor states. These states enjoy the benefits of a growing population and strong agricultural base, aside from being close to Delhi.
Want to read more? Read The Financial Express here.