Jaipur, January, 2025.
Rajasthan has witnessed an impressive 69% growth in business loans under ₹10 lakh, positioning the state as a key player in India’s growing small-ticket lending market, according to a new white paper by Experian India. The report, titled “Small is BIG: How Fintechs are Revolutionizing Lending,” highlights Rajasthan’s lending growth during FY’24 compared to FY’23, showcasing the state’s progress in financial inclusion through fintech-driven solutions.
Although personal loan growth in Rajasthan was modest at 3.5% for loans under ₹1 lakh, fintech companies have played a crucial role in transforming business lending.
In Rajasthan, 53% of the population has availed business loans under ₹10 lakh from fintech lenders, demonstrating the deep reach of digital lending platforms. This growth in small-ticket business loans is reshaping the lending landscape, providing critical financial access to New-to-Credit (NTC) individuals and small businesses in the region.
The white paper reveals that fintech companies have facilitated over ₹2,48,006 Crores of Personal Loan and ₹28,607 Crores Business Loans as of March 2024 across the country. These loans, often under ₹50,000, have primarily reached New-to-Credit (NTC) individuals, those with thin credit files, and sub-prime borrowers, many of whom were previously excluded from the formal financial system.
Manish Jain, Country Managing Director at Experian India, said, “The fintech revolution in India is just beginning, and there’s enormous potential for growth. Fintech companies have already made a big impact by providing credit to those who need it most, but there’s still more to be done. The insights in this white paper highlight both the opportunities and challenges ahead.”
