💨 Abstract

India's retail credit has grown significantly over the past decade, increasing from 9% to 18% of the GDP, while bank credit has remained stable at 55%. The growth in retail credit is attributed to increased digitalization, fintech platforms, and financial inclusion efforts. The report predicts the next phase will see hyper-personalized banking, AI, decentralized finance, and Central Bank Digital Currencies.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖