Consolidation looms among niche, smaller players, while the big names will likely see their already thin margins dwindle.
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It reported losses in Q2 and Q3, its financial services business is reeling and its payments business is growing but earning less. The Gurugram-based fintech needs a turnaround.
The P2P lending platform is the only one that is still doing substantial business after the central bank tightened the rules last August, virtually shutting down the sector. It has carried on as though the new rules don’t exist.
Anything that an average user can achieve with the e-rupee, they can already do with UPI. But there is a different purpose altogether for the digital currency.