印度小額貸款市場評估：按提供者、最終用戶、地區、機會、預測劃分，2018-2032 年

印度小額貸款市場規模預計將從 2024 年的 183.2 億美元成長到 2032 年的 460.4 億美元，2025 年至 2032 年的預測期間複合年增長率為 12.21%。市場成長的推動因素有：政府致力於金融普惠，顯著擴大了無銀行帳戶人群的信貸管道，以及智慧型手機的快速普及，使數位借貸平台變得更容易使用。由於先進的技術和簡化的貸款申請和審批，個人和小型企業對快速、方便的信貸的需求持續增長。同樣，更好的數據分析和新的信用評分模型使篩選信用記錄不良的客戶變得更加容易。印度儲備銀行（中央銀行）的監管發展有助於促進良好的貸款實踐並推動該行業更進一步。越來越多的中小企業正在推動對小額貸款的強勁需求，以支持其營運資金需求並推動成長。因此，許多小額信貸提供者傾向於關注社會影響力，以吸引影響力投資者。透過提供保險和儲蓄，我們正在豐富我們的產品範圍並提高客戶的興趣。

小額貸款是向不熟悉主流銀行系統的個人和企業提供小額貸款。透過為個人需求和小型企業融資來增強弱勢群體的能力。因此，隨著創新技術和替代估值方法的出現，小額貸款提供了即時融資管道，並成為金融包容性促進經濟成長的催化劑。

該報告研究了印度小額貸款市場，並提供了市場概況，包括按提供者、最終用戶、地區和市場參與者分類的趨勢。

目錄

第1章 專案範圍與定義

第2章 研究方法

第3章 執行摘要

第4章 客戶回饋

第5章 2018-2032 年印度小額貸款市場展望

• 市場規模分析與預測
• 市佔率分析及預測
• 2024 年市場地圖分析
  • 按提供者
  • 按最終用戶
  • 按地區

第6章供需分析

第7章 價值鏈分析

第8章 波特五力分析

第9章 PESTLE分析

第10章 利率分析

第11章 市場動態

第12章 市場趨勢與發展

第13章案例研究

第14章 競爭格局

• 前 5 名市場領導者的競爭矩陣
• 前5名企業SWOT分析
• 前10名主要企業狀況
  • Bharat Financial Inclusion Limited
  • Equitas Small Finance Bank Limited
  • Bandhan Bank Limited
  • Suryoday Small Finance Bank Limited
  • CreditAccess Grameen Limited
  • Aye Finance Private Limited
  • Transactree Technologies Private Limited
  • Indifi Technologies Private Limited
  • ESAF Small Finance Bank
  • Fusion Finance Limited

第15章 戰略建議

第16章 查詢及免責聲明

India micro lending market is projected to witness a CAGR of 12.21% during the forecast period FY2025-FY2032, growing from USD 18.32 billion in FY2024 to USD 46.04 billion in FY2032. Several key factors contribute to the growth of the market, including government initiatives focused on financial inclusion that significantly expand access to credit among unbanked populations and rapidly rising smartphone penetration that makes access much more accessible for digital lending platforms. Demand for quick and accessible credit by individuals and small businesses continues to grow due to advanced technology and streamlining loan applications and approvals. Similarly, better data analytics and new credit scoring models have facilitated the assessment of clients with fewer credit histories. A conducive regulatory setting coming from the Reserve Bank of India helps to encourage healthy lending practices, going one step further to boost the sector. More SMEs stimulate strong demand for microloans in terms of supporting working capital needs and enhancing growth. As a result, most of the micro lenders tend to focus on social impact to attract impact investors. Their product offerings diversify as they offer insurance and savings, increasing the engagement of their customers.

Micro lending provides small loans to individuals or business operatives unaware of the mainstream banking systems. It empowers the underprivileged by financing personal needs or a small business venture. Thus, with the advent of innovative technologies and alternative assessment methods, micro lenders provide instant access to finance, which catalyzes financial inclusion toward economic growth. In July 2023, a Fintech lender, Aye Finance Private Limited, announced that it had set aside around USD 12 million for its Shakti Loan initiative in 2023 and hoped to provide credit for 10,000 women running micro-enterprises. The Shakti Loan was developed in partnership with Consultative Group to Assist the Poor (CGAP), a global alliance of more than 30 prominent development organizations such as the World Bank, United Nations Development Programme (UNDP), and Mastercard Foundation striving to improve financial inclusion and empower the marginalized, mainly the female population.

Increase in Small and Medium Enterprises (SMEs) to Enhance Market Growth

The expansion of SMEs has been one of the prime factors leading to the growth of the micro lending market in India. SMEs form a sizeable part of the country's economy in terms of job availability and gross domestic product. Increasingly, the demand for micro-loans has been propelled due to expanding industries, investing in new technologies, or managing cash flow. Traditional banks hold back from giving loans to small-scale businesses due to a lack of adequate collateral. This gap has been positioned to be filled by micro lenders, such as micro finance institutions (MFIs). Indeed, it has distinguished them as they can provide customized loans and flex repayment terms that apply specifically to the needs of small or medium enterprises to grow their businesses in such a competitive business world. The Budget 2024 documents indicate that the MSME Ministry has been allocated USD 2.65 billion, which is the same as last year's allocation. Meanwhile, the budget for central sector schemes supporting MSMEs has seen a slight increase, reaching USD 2.62 billion.

In addition, many micro lending portals rely on sophisticated data analytics to check the borrowers' creditworthiness, enabling them to close loan applications faster. Such time and ease factors suit small-scale entrepreneurs who seek loans urgently. Additionally, government policies toward SMEs, such as offering incentive schemes of various types, make them more viable and increase the scope of micro-lending as a viable source of funding. It generally promotes the scale of SMEs. The growing SMEs would increase the demand for microloans. This has the effect of promoting quick economic growth, generally incorporating SMEs into the micro-lending landscape in India.

Technological Advancements to Drive Market Growth

Technological upgradations are fueling the growth of the micro lending market in India. Fintech companies have upset traditional loan sourcing, processing, and disbursal models. They enable borrowers to have easy access to microloans through myriad digital platforms, such as web portals and mobile applications, cutting both the time and efforts required while easing the time-consuming traditional methods of borrowing loans. Moreover, with better analytical capabilities and AI-based systems, the assessment of creditworthiness has largely improved so that lenders can accept the views of alternative data sources, such as transaction history and social behavior, rather than traditional credit scores. This benefits lenders from expanding their customer base to include those with limited or no credit history. In June 2024, Arthan Finance Private Limited, an NBFC company focused on micro loans, raised around USD 6 million in funding from a host of notable investors, including the Incofin India Progress Fund and returning backer, the Michael & Susan Dell Foundation. This new capital injection will further fuel growth for the company and its technological developments, serving to help further its mission of enabling small business owners.

However, automation in loan origination and underwriting processes reduces operational costs and greatly shortens the decision time cycle seamlessly for the borrowers. This, in turn, allows microlenders to offer competitive interest rates and flexible repayment options. Moreover, improvements in blockchain technology are expected to enhance the transparency and security of transactions as trust builds with lenders and borrowers. These technological inventions, therefore, contribute to the efficiency and accessibility of micro-lending and even empower once-closed, underserved populations with the acceleration of financial inclusion and economic growth across the country.

NBFC-MFIs Segment to Dominate India Micro Lending Market Share

The trend in micro lending in India is expected to be dominated by the NBFC-MFIs as these entities particularly focus on financial inclusion among targeted populations. To that extent, the small loans supplied to segments, especially underprivileged women and rural entrepreneurs, helped place NBFC-MFIs in an extremely strategic position for economic development. These institutions can lend to borrowers who may not qualify for a traditional bank loan due to their ability to assess the borrower's creditworthiness using alternative data and community-based methodologies. Demand for microfinance products has been enormous since entrepreneurial activity and the demand for readily available credit for low-income groups have been on the rise. Government support and regulatory frameworks play an important role in enhancing the operational capacities of NBFC-MFI to reach a wider clientele and for diversified products.

Technology, including digital lending platforms, continues to improve such processes and facilitate funds to borrowers through easy means. Improving financial literacy and spreading awareness about the benefits of microfinance will position the NBFC-MFI segment well in the micro-lending market in India, fostering economic development and enabling marginalized communities across the country. In FY2022-FY2023, NBFC-MFIs had a total number of active loan accounts at USD 6.1 million and a total unique borrower standing at USD 3.5 million.

Southern India to Dominate the Micro Lending Market Share

Southern India is likely to be the leader in the micro-lending market as it has a robust infrastructure and a high concentration of microfinance institutions. Tamil Nadu, Karnataka, and Andhra Pradesh are those states where the micro lending ecosystem seems strong due to self-help groups (SHGs), a network that empowers local communities. The region's proactive approach toward financial inclusion and supporting government policies have made it more accessible for the underprivileged to procure credit. Moreover, cooperative banks and the surging fintech companies enhance the number of microloan products and their variety in the region, thereby encouraging the south, which had hitherto been in the lead. With traditional and innovative financing models, the southern region can reasonably make an impact on financial inclusion efforts and boost economic growth through micro-lending initiatives.

The western region of India is rapidly gaining momentum in the micro-lending market, propelled mainly by Maharashtra, Gujarat, and Rajasthan. These three states are primarily influenced by the resurgence of entrepreneurial activity and a growing demand for financial services among smaller businesses and rural communities. The Pradhan Mantri MUDRA Yojana (PMMY) provides up to approximately USD 12,000 loans to micro and small non-corporate, non-farm enterprises. MUDRA loans are provided to such micro-enterprises by commercial banks, regional rural banks, small finance banks, microfinance institutions, and non-banking financial companies. It is through PMMY that the Indian government's focus and emphasis have provided immense progress in the financial inclusion of small and micro-enterprises across India for FY2023-FY2024. A total number of 66,777,013 loans have been sanctioned. The amount sanctioned would roughly work out to approximately USD 65.5 billion. So far, around USD 64.4 billion has already touched the eligible borrowers' hands.

Future Market Scenario (FY2025 - FY2032F)

The micro lenders can be reasonably presumed to offer diversified financial products that would respond to the diverse needs of the customers, for instance, insurance and savings accounts.

Further research in fintech, including AI and blockchain, will improve the efficiency of processes, update creditworthiness assessment, and further increase the transparency of transactions.

Northern technological banks and original banks could increasingly form alliances with the fintech firms to gain and strengthen technology and increase access to the area of microcredit.

Key Players Landscape and Outlook

Traditional banks, NBFCs, and fintech startups highly integrate competition among Indian micro lending. Via this competition, key players across the market have developed a few strategies that will make them stand out from each other. Most importantly, they focus a lot on integrating technology, particularly through AI and machine learning, to perfect credit assessments and easy loan processing. Other expansions focus on product lines, such as providing insurance and savings accounts to cater to the diverse needs of clients. Associations with fintech companies boost the quality of service provision and business operations by positioning the customer at the center through a more consumerist electronic portal and bespoke services. It focuses on financial education to enlighten loan customers on prudent lending practices. Targeted marketing strategies have applied data analytics to reach specific customer segments, and geographical expansion into rural areas has helped them spread their reach. With such players focusing on sustainability and dynamic pricing models, they can maneuver competition well and match the varying needs of this micro lending market.

In March 2024, Aye Finance Private Limited, a non-banking financial lender, raised debt funding worth around USD 16.5 million from a Germany-based company, Invest in Visions GmbH, to finance the micro and small enterprises of India. The company aims to promote financial inclusion by empowering MSMEs across the country. Aye Finance has provided customized loan products and, so far, has disbursed more than USD 1.2 billion to grassroots ventures.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Mode of Brand Awareness
• 4.3. Factors Considered in Purchase Decisions
  • 4.3.1. Lending Model
  • 4.3.2. Interest Rates
  • 4.3.3. Loan Purpose
  • 4.3.4. Repayment Terms
  • 4.3.5. Risk Involved
  • 4.3.6. Technological Integration
• 4.4. Customer Support
• 4.5. Consideration of Privacy and Regulations

5. India Micro Lending Market Outlook, FY2018-FY2032F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Provider
    • 5.2.1.1. Banks
    • 5.2.1.2. Microfinance Institutes (MFIs)
    • 5.2.1.3. Non-Banking Financial Institutions (NBFCs)
    • 5.2.1.4. NBFC-MFIs
  • 5.2.2. By End-user
    • 5.2.2.1. Solo Entrepreneurs
    • 5.2.2.2. Micro Enterprises
    • 5.2.2.3. Small Enterprises
  • 5.2.3. By Region
    • 5.2.3.1. North
    • 5.2.3.2. South
    • 5.2.3.3. East
    • 5.2.3.4. West and Central
  • 5.2.4. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2024)
• 5.3. Market Map Analysis, FY2024
  • 5.3.1. By Provider
  • 5.3.2. By End-user
  • 5.3.3. By Region

6. Demand Supply Analysis

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Interest Rate Analysis

11. Market Dynamics

• 11.1. Market Drivers
• 11.2. Market Challenges

12. Market Trends and Developments

13. Case Studies

14. Competitive Landscape

• 14.1. Competition Matrix of Top 5 Market Leaders
• 14.2. SWOT Analysis for Top 5 Players
• 14.3. Key Players Landscape for Top 10 Market Players
  • 14.3.1. Bharat Financial Inclusion Limited
    • 14.3.1.1. Company Details
    • 14.3.1.2. Key Management Personnel
    • 14.3.1.3. Products and Services
    • 14.3.1.4. Financials (As Reported)
    • 14.3.1.5. Key Market Focus and Geographical Presence
    • 14.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 14.3.2. Equitas Small Finance Bank Limited
  • 14.3.3. Bandhan Bank Limited
  • 14.3.4. Suryoday Small Finance Bank Limited
  • 14.3.5. CreditAccess Grameen Limited
  • 14.3.6. Aye Finance Private Limited
  • 14.3.7. Transactree Technologies Private Limited
  • 14.3.8. Indifi Technologies Private Limited
  • 14.3.9. ESAF Small Finance Bank
  • 14.3.10. Fusion Finance Limited

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

15. Strategic Recommendations

16. About Us and Disclaimer

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1. India Micro Lending Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2. India Micro Lending Market Share (%), By Provider, FY2018-FY2032F
• Figure 3. India Micro Lending Market Share (%), By End-user, FY2018-FY2032F
• Figure 4. India Micro Lending Market Share (%), By Region, FY2018-FY2032F
• Figure 5. By Provider Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 6. By End-user Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 7. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024