 "Consumer, personal loans bolstered fintech lending in FY 2021: Report")
SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of the fast growing NBFC (Non- Banking Financial Company) Fintech segment.
"Fintech Pulse" aims to provide insights on trends in the Indian Fintech industry - from disbursements to delinquencies to top growing states and top loan categories.
Key highlights:
* Consumer and Personal Loans continue to be strong for NBFC-Fintechs with 87 per cent share in active loans
* There is a 38 per cent increase in outstanding portfolios value year on year, with personal loans growing while business loans showing a decline in value
* Despite growing, consumer and personal loans have seen average ticket sizes come down by more than 40 per cent, to less than Rs 9000
More From This Section
* Disbursements for personal loans are down 71 per cent year on year
* In overall industry, NBFC-Fintechs have market share of 2.44 per cent in business loans by number of active loans and 1.2 per cent by portfolio outstanding
* Business loan disbursements by all lender types declined post pandemic began, but started recovering from Apr-June 2020 quarter for Public Sector Banks
* 90+ delinquencies for business loans by NBFC-Fintechs deteriorated YoY
* Top 5 states contributing 50 per cent of total loans disbursed by Fintechs were Uttar Pradesh, Maharashtra, Delhi, Gujarat and Rajasthan
"Fintech Lending has changed the approach of credit delivery in India through Innovative products and real time solutions. The industry has witnessed 38 per cent YoY growth as on Sep'20, despite COVID pandemic. As we move in new normal, the Fintech Lending industry will play a crucial role in delivering credit to last mile borrowers. I hope the Fintech Pulse will provide key insights to stakeholders," said V Satya Venkata Rao, Deputy Managing Director, SIDBI, on the launch.
"We are very pleased to present the second edition of 'Fintech Pulse' in partnership with SIDBI. This edition sheds light on how NBFC-Fintech lending fared during pandemic times. In addition, the report has greater insights on business loans with a section devoted to the Covid-19 impact on Fintech lending," said KM Nanaiah, Managing Director, Equifax Credit Information services Ltd. and Country Leader, Equifax India and MEA.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article.