Sustainable Development - Digital Financial Lending Domain

Abstract: This paper incorporates understandings from various existing literatures and reputed sources to introduce the changing dynamics in the digital financial lending/lenders (DFLs) domain in India. The major changes happening in the world of technology puts the online lending business in the arc of a wider audience resulting in higher money multiplier effect along with posing fresh challenges. The data from the financial world is showing an increase in numbers for online loans; directly supporting the financial inclusion debate and also increasing the lacunas in the process and quality of loans being disbursed. The control systems existing in the physical or offline domain of lending is not possible to be equitably imposed on the digital lending domain due to multiple factors. This qualitative study is more in line with how to grow the digital lending domain in a sustainable way leading to a holistic growth in our country which can lead to decreased poverty, with higher financial inclusion and more disposable income in the hands of the larger population. Keywords: Financial Domain, Digital lending, Financial inclusion, Sustainability, India