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Nearly 15 crore of Population Eligible for Small loans has not yet Taken it
May 28, 2018
Nearly half of the total working class Indians which accounts to more than 15 crores of people is eligible for taking small loans or around INR 15,000 but are yet to take it. The TransUnion Cibil study points that this borrower population could provide significant boost to the Indian economy by providing growth opportunities to the retail sector.
According to the Vice President of TransUnion Cibil, Yogendra Singh, these potential borrowers have an income of around 2.5 lakhs per annum and are eligible only for smaller credits like that of consumer durables with repayability of 10 months.
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