the MSME lending landscape in India continues to evolve, driven by innovation, digital adoption, and the growing needs of small businesses.
FinTech BizNews Service
Mumbai, 26 December, 2024: As 2024 comes to a close, the MSME lending landscape in India continues to evolve, driven by innovation, digital adoption, and the growing needs of small businesses. NeoGrowth, a leading fintech NBFC, has been at the forefront of this transformation, leveraging technology to provide quick, tailored, and accessible loans to MSMEs.
With a mission to empower small businesses and drive financial inclusion, NeoGrowth combines data-driven insights with a customer-centric approach, making credit accessible to underserved segments across diverse industries.
Reflecting on the milestones achieved and the opportunities ahead, Arun Kumar Nayyar, MD & CEO of NeoGrowth, shares his comment on the current MSME lending ecosystem and how fintech innovations are shaping the future of small business financing in India.
"India, with its rapidly evolving digital infrastructure and growing fintech ecosystem, is uniquely positioned to bridge this credit gap and drive inclusive economic growth by making financial services more accessible, affordable, and tailored to the needs of unserved and underserved segments.
Access to credit can help in the formalization of the MSMEs sector and drive inclusive growth.
To enable credit access for MSMEs without a credit history, flow-based lenders like NeoGrowth play a pivotal role by leveraging digital cashflows and data-driven models that accurately reflect repayment capabilities. Tailored products cater to the diverse needs of MSME segments with features such as daily repayment facilities, simplified application processes, quick disbursals, collateral-free loans, and end-to-end digital solutions.
In 2025, the sector is expected to mature and evolve further with a continued focus on risk management and governance. Lenders will continue to integrate AI and data analytics in their operations for credit assessment to drive viable growth. As the sector advances toward 2025, it is set to solidify its critical role in the national economy, strategically balancing ambitious growth with sustainable development."
