- Fintech players have issued hundreds of thousands of such cards with the aid of PPI licenses and loaded them using credit lines from banks and nonbanking financial institutions.
- According to recent data, in the past 18 months, the financial technology sector in India has absorbed about $14 billion of investment capital.
- Fintech lending companies doubled disbursements in the financial year ending in March 2022 to a total of $2.3 billion.
- In the coming months, RBI will likely introduce formal rules for India’s loosely regulated digital-lending ecosystem.
- Apart from that, RBI also formed a new fintech department to regulate it properly.
Question:
Q.1 According to a recent report, the financial technology sector in India has absorbed _________ of investment capital.a. $15 billion
b. $16 billion
c. $ 17billion
d. $ 14 billion
