First Time Borrowers
Latest news, explainers and analysis on First Time Borrowers. Tracking 3 stories on Arth Vani.
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Latest on First Time Borrowers
BreakingNBFCs Crucial for First-Time Borrowers, Support Half of New Credit Users
Non-Banking Financial Companies (NBFCs) are playing a vital role in expanding credit access in India, originating 50% of all loans to individuals or businesses new to the credit system. This highlights their significance in financial inclusion and providing a gateway to formal credit for a large segment of the population.
BreakingFirst-Time Borrowers Drive Credit Growth: Uptake Jumps to 74% Among Eligible Indians
Credit uptake among eligible first-time borrowers in India has more than doubled, reaching 74%. This significant increase indicates a deepening of credit penetration across the country, driven by new entrants to the formal credit system.
First-Time Borrowers Hit as Microfinance Lenders Prioritize Safety Over New Growth
Microfinance lenders in India are becoming increasingly cautious, making it harder for individuals without a credit history to secure loans. A recent SIDBI-Equifax study reveals that the share of first-time borrowers has plummeted from 33% to just 20% as lenders focus on customers with proven repayment records.
Loan interest rates, processing fees and eligibility are set by the lender and subject to credit approval — verify current terms before applying. Some listings may be sponsored. Not financial advice.