Personal loan approvals surge to Rs 2.99 trillion in Q1 FY27, reports FACE
FACE says personal loan approvals in the first quarter of FY27 totalled roughly Rs 2.99 trillion.
According to the Fintech Association for Consumer Empowerment, personal loan sanctions in the first quarter of FY27 reached approximately 4.9 crore loans, totalling Rs 2.99 trillion. Digital non-banking financial companies alone approved 3.4 crore loans valued at Rs 64,656 crore, keeping the average ticket size close to Rs 19,000. The overall sanctioned amount grew by four per cent from Q4 FY26 and by 50 per cent over Q1 FY26.
FACE, the RBI-recognised self-regulatory body for fintechs, highlighted that the rise reflects a higher volume of small-value borrowing. This data underscores the expanding role of digital lenders in India’s consumer credit market.
Why it matters
The surge shows rapid growth of digital lending, affecting credit availability and financial stability in India.
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