stockbrokers: How tech-first stock brokers are diversifying into lending
ETtech
Synopsis
Stock broking startups are focusing on consumer loans as they look to diversify their business area. Large stock brokers like Groww and Angel One are disbursing strong numbers for personal and consumer loans. Groww is facilitating disbursement of around Rs 250 crore of personal loans every month, while Angel One is handing out around Rs 50 crore monthly.
5 mins read, Last Updated:
Tech-first broking companies which are leading the pack among stockbrokers in the country are betting on the credit business to build a larger financial services play and reduce reliance on the highly volatile futures and options (F&O) market as a core part of their operations. Bengaluru-based Groww, the largest stockbroker in India in terms of active traders, is facilitating disbursement of around Rs 250 crore of personal loans every month,
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