Bajaj Finance records 27% surge in festive loan volume

Bajaj Finance Ltd., India’s largest private sector non-bank lender and part of Bajaj Finserv, today said it had seen a surge in consumption finance during the festive season, disbursing a record number of consumer loans, higher by 27% in volume and 29% in value as compared to the same period last year.

The rise in consumption credit, represented by loans for consumer goods, reflects the positive outcome of the government’s next generation GST reforms and changes in personal income tax, aimed at increasing consumers’ purchasing power.