A realty check on Fintech Money Lending apps

The financial market in India is fast changing with the growth of internet access to a very large population. The last development is the emergence of large number of financial money lending apps to feed the financial need of the Indian customers. Indian financial market has both formal and informal money lending business going for long time. The Informal financial providers such as money lenders are getting replaced to some extent by these fintech money lending apps especially in urban India. Thousands of such apps are available in the google play store and other app download options. It is high time government of India comes out with proper rules and regulation for this segment of financial service.