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ICICI Securities Report
We interacted with loan aggregators including a leading financial product distributor in North India to discuss prevalent, prominent and pertinent practices and trends on consumer and lender fronts. Key takeaways:
March 2022 lending business volume is expected to be 25% higher than March 2020.
Used car financing (including loan against car), affordable housing and loans to professionals are gaining traction and scale.
HDFC Bank Ltd. is relatively more prominent in lending due to its reach, product variants and payment system.
Hero FinCorp and Tata Capital are doing reasonably well.
Cholamandalam Investment and Finance Company Ltd. is now actively pursuing unsecured lending for the past couple of months.
Players active in affordable housing include Axis Asha, PNB Housing Finance Ltd. (Unnati), Vastu, Aditya Birla, etc.
Poonawalla Fincorp is making its presence felt in many markets.
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