Fintechs' portfolio outstanding in the riskier personal loans segments dropped by 10% in the September quarter, a self-regulatory organisation for the sector said on Monday.
In a data release -- which comes amid concerns on the personal loans front, which have even led to actions from RBI to curb lending in it -- Fintech Association for Consumer Empowerment or FACE said the loan outstanding dropped to Rs 66,683 crore at the end of September compared to Rs 74,057 crore in June.
The SRO said loans unpaid for over 90 days increased to 3.4% from 3.2% in June.
West Bengal (4.1%), Uttar Pradesh (3.7%), Rajasthan and Gujarat (3.6%) each had the highest incident of stress, it added.
The first half of the fiscal witnessed a reduction in the average ticket size per borrower to Rs 9,225 against Rs 10,222 in fiscal 2023-24, it said, adding that 41% of the loans in the first half were under Rs 25,000.
Digital personal loans by Fintech NBFCs accounted for 12% of the overall personal loan market by sanction value in the Q2, it said, adding that they were over three-fourths from a volume perspective, which illustrates lower ticket sizes.
The data analyses the performance of 71 fintech non-banking finance companies or NBFCs, the statement said.
RECOMMENDED FOR YOU
POPULAR