What's the deal bro? Fintech startups used the ambiguity in the law to extend micro loans or provide services like Buy Now Pay Later (BNPL) to their customers. These credit services took off big time as people lost their jobs or faced salary cuts post-Covid. Ease of repayment, cashback on online shopping, and attractive marketing boosted growth manifold for these startups.
Who gains? Fintech startups' growth came at the expense of old-school banks with a large credit card base. Morgan Stanley believes the RBI's latest move is a big positive for SBI Cards. FYI – SBI Card is the second-largest credit card player with ~20% market share.
You can add SBI card as a long-term investment. You can stagger your investment where you can buy some quantity of shares with every Rs 100 rising or falling.
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