Credit market on course to grow to USD 350 billion by year-end: Vivek Joshi

Financial Services Secretary Vivek Joshi on Tuesday said the credit market, led by the digital lending segment, is on course to grow to USD 350 billion (around Rs 3 lakh crore) by the end of the year. The digital lending segment stood at USD 270 billion at the end of 2022, Joshi said on the opening day of the fifth edition of the global fintech festival here.

The official also said the country's fintech market is slated to grow three times to USD 150 billion by 2025-end from USD 50 billion in 2021.

About 800 speakers and 50,000 delegates are attending the three-day global fintech summit.