As the second most populous nation in the world, India has always experienced a widespread need for credit. The onset of the global pandemic has further intensified demand for credit across the country as medical and financial emergencies have erupted. At a time like this, traditional financial institutions, with their
Online lending platforms have given traditional lenders like banks a run for their money. The benefits of online loan providers are numerous; hence, they have attracted many customers in a short time. For starters, online lenders do not require any collateral, which prevents people from applying for grants from banks.