India: Digital Lenders Struggle to Cope With Slowdown Induced by Virus

The digital lending industry, which saw heightened activity over the past few years, is facing its first ever slowdown, with lending volumes taking a severe hit because of the covid-19 crisis.

Now, digital lenders are expecting guidelines from the regulator for full digitization, and allowing eKYC and eSign mandates, in a bid to curb the requirement of physical signatures of borrowers.