As investors in MobiKwik’s P2P lending scheme cry foul over the handling of an RBI rule change, uncertainty looms over the fintech company’s lending business—its strongest growth driver.
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A crash in lending saw the fintech end the financial year in the red. But its payments business is going strong, and the worst may be over in the loans business.
A breakdown of the recent numbers suggests that the Policybazaar parent may face a slowdown in the years ahead.
They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.