By Anupam Vasdani, Group CFO, True balance
“The RBI is holding its ground, but the ground is shifting. The West Asia conflict has done what external shocks do — it has compressed the policy space that took two years of disciplined disinflation to create. With inflation now projected to breach 5% and a deficient monsoon adding to the uncertainty, the window for further easing has effectively closed for this cycle. For fintechs whose growth is built on expanding credit access, this is a moment that separates platforms built on sound underwriting from those built on rate-cycle tailwinds. In an environment like this, how you price risk, manage your cost of funds, and serve borrowers responsibly is what will define the next phase of digital lending in India.”