In a consumption-driven economy like India, expanding credit access—through microfinance NBFCs and fintech lenders—is crucial. However, regulators aInd policymakers must closely monitor this space to avoid large-scale defaults. While underserved consumer segments depend on such loans for upward mobility, repayment capacity must not be overlooked. Sustainable livelihoods and employment generation will be essential to ensuring both credit access and creditworthiness.

