Indian fintechs have transformed the BFSI sector, with their market cap soaring to over Rs 12 trillion.
Back in 2005, they were barely around, but now stars like PhonePe (with 52% of UPI transactions), Paytm, Groww, and Zerodha are leading financial inclusion.
The BFSI sector’s share in Nifty’s market cap jumped to 47% in 2025 from 20% two decades ago.
Growth is huge, but making steady profits is tough for many—Zerodha’s an exception.
With risks like Paytm’s losses, fintechs are exciting but tricky investments.
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