SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of the fast growing NBFC (Non- Banking Financial Company) Fintech segment.
"Fintech Pulse" aims to provide insights on trends in the Indian Fintech industry - from disbursements to delinquencies to top growing states and top loan categories.
Key highlights:
• Consumer and Personal Loans continue to be strong for NBFC-Fintechs with 87% share in active loans
• There is a 38% increase in outstanding portfolios value year on year, with personal loans growing while business loans showing a decline in value
• Despite growing, consumer and personal loans have seen average ticket sizes come down by more than 40%, to less than INR 9000
• Disbursements for personal loans are down 71% year on year
• In overall industry, NBFC-Fintechs have market share of 2.44% in business loans by number of active loans and 1.2% by portfolio outstanding
• Business loan disbursements by all lender types declined post pandemic began, but started recovering from Apr-June 2020 quarter for Public Sector Banks
• 90+ delinquencies for business loans by NBFC-Fintechs deteriorated YoY
• Top 5 states contributing 50% of total loans disbursed by Fintechs were Uttar Pradesh, Maharashtra, Delhi, Gujarat and Rajasthan
On the launch, Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI said, "Fintech Lending has changed the approach of credit delivery in India through Innovative products and real time solutions. The industry has witnessed 38% YoY growth as on Sep'20, despite COVID pandemic. As we move in new normal, the Fintech Lending industry will play a crucial role in delivering credit to last mile borrowers. I hope the Fintech Pulse will provide key insights to stakeholders."
About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com
About SIDBI
Small Industries Development Bank of India has been established under an Act of the Parliament in 1990. SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the Micro, Small and Medium Enterprises (MSME sector) and co-ordination of the functions of the various Institutions engaged in similar activities. Over the years, through its various financial and developmental measures, the Bank has touched the lives of people across various strata of the society, impacted enterprises over the entire MSME spectrum and engaged with many credible institutions in the MSME ecosystem. Under Vision 2.0, SIDBI has spearheaded various Initiatives to address the Information Asymmetry in MSME sector like 'MSME Pulse', the health tracker of MSMEs and 'CriSidEx', for gauging the MSE sentiments & aspirations and 'Fintech Pulse', for credit data insights on Fintech lending segment, 'Microfinance Pulse', insight report on Microfinance sector and 'Industry Spotlight', a comprehensive report on major industry sectors.
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