India has grown as a Mobile-First market. The next growth wave in India’s Internet population can be seen across various dimensions.
In order to understand – How India is borrowing, we conducted a Loan Consumption Survey and gathered insights on borrowing and consumption pattern of the borrowers. Our objective is to build long-term relationships with our customers, serving not only their needs of today but helping them build a solid financial future for tomorrow.
This survey covers some key aspects of usage and attitude of consumers and their adaptability. Key highlights of the report are:
- The purpose of borrowing was seen to have a good mix of personal and business use
- A rapid growth in female borrowers was seen, thus showing an equitable mix of gender
- There is a high percentage of customer share in lower-income brackets which tends to be the underserved segment in the market
- Majority of our customer base is young and tech-savvy
- Sophisticated and elaborated risk policy which allowed us to serve a high percentage share of self-employed customers
- Broad geographical reach is advocated by steady growth in Tier-1 cities like Jaipur, Pune, Surat, Ahmedabad, Vizag etc.
- UPI emerged as one of the preferred channels of repayment
Check the below infographic for more details about the Loan Consumption Survey: