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India Business News: Mumbai: Finance Minister Nirmala Sitharaman will present an interim budget on February 1, which will be a vote on account which, by definition, cannot.
Data from last year, sourced from asset management companies, showed that on an average SIPs through platforms such as Groww, PhonePe and ET Money ranged between Rs 1,500 to Rs 2,500 against Rs 5,000 for traditional firms.
On Wednesday, ET wrote about how fintechs were adding more than 42% of the new investors in mutual funds every month. And this is not unique. Be it wealth management, payments or credit, fintechs are playing an important role in expanding the market and driving adoption everywhere.
Amid the funding winter, India’s fintech sector experienced a significant setback, with a 63% decline in fund inflows throughout 2023, according to a report by Tracxn.
Borrowing rates for the firms are expected to climb by 15-25 basis points