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CRED announces launch of CRED Mint, ‘peer-to-peer (P2P)’ lending feature

  • Published
    23rd Aug, 2021

Fintech firms and startups have come a long way in India. Discuss the role that these new innovations play in promoting the objective of financial inclusion in India. (250 Words)

 Approach:

  • Introduce by giving a definition of Financial inclusion
  • Through a diagram, show various types of Fintech innovations like peer-to-peer lending, small credit, payments banks, etc.
  • Enumerate the role that these fintech innovations play in bringing financial inclusion - through reducing the cost of banking service delivery, giving micro credits etc.
  • Limitations of Fintech Firms in bringing financial inclusion -  like Poor financial literacy, Digital divide, RBIs regulatory regime, -underdeveloped insurance sector etc.
  • Government's incentives and support to Fintech firms.
  • Way Forward / Conclusion
X

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