Maharashtra, Karnataka are among top states in terms of digital loan — check out others

May 31, 2022 By: BI India Bureau

Loans worth ₹18,000 crore were disbursed

A report by the Fintech Association for Consumer Empowerment (FACE), reports that fintech lending companies doubled the disbursements in fiscal year 2021-2022, by giving out 2.66 crore loans crossing ₹18,000 crore. Credit: Canva

Nine companies shared data for the report

Members of FACE include Chqbook, EarlySalary, Kissht, KreditBee, LoanFront, LoanTap, mPokket, PayU, and Phocket. Credit: Canva

South India is the biggest market

South India accounts for 44 percent of the digital loans disbursed, followed by West India with 24 percent share and North India with 21 percent share. The remaining 10 percent is from East India. Credit: Canva

Maharashtra

Share in Loan: 16 percent, ₹2,880 crore Credit: Canva

Karnataka

Share in Loan: 14 percent, ₹2,520 crore Credit: Canva

Telangana

Share in Loan: 10 percent, ₹1,800 crore Credit: Canva

Tamil Nadu

Share in Loan: 9 percent, ₹1,620 crore Credit: Wikipedia

Andhra Pradesh