Loan demand by Indian women rises 48 percent in 3 years

Loan demand by Indian women rises 48 percent in 3 years

MUMBAI,(Rahnuma):  Indian women are increasingly opting for loans with 48 percent growth seen in credit application between 2015-2018, said a release by TransUnion CIBIL, Monday.

These loans are primarily in personal, consumer and two-wheeler loans from 8.6 million new women borrowers annually, of which 66 percent were from four southern states of Tamil Nadu, Kerala, Andhra Pradesh and Karnataka along with Maharashtra located in the western region.

“The increase in credit demand and uptake by women is an opportunity for the credit industry to customize products and services that can cater better to the financial requirements of women borrowers,” said Harshala Chandorkar, COO, TransUnion CIBIL, India’s leading credit information company that maintains over one billion credit records of individuals and businesses.

It is encouraging to observe that a high number of business loans originate from states which have the maximum number of female owners of medium and small enterprises, she said.

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