Fintech lending growth slows after clampdown

But delinquency and deep-stage stress are still elevated, shows report

- Salman SH [e-mail]

Fintech lending growth has cooled following the Reserve Bank of India’s (RBI) clampdown on unsecured lending. But risk metrics have not eased much, with delinquency and deep-stage stress remaining elevated, according to credit bureau CRIF High Mark’s latest report.

Active loans grew 25.6% year-on-year (yo-y) to ₹2.1 trillion portfolio by June, slower than the 29.6% yo-y growth when portfolios were ₹1.6 trillion in June 2024. Yet the most severe stress has risen: fintech loans that are 180 days past due (DPD) climbed to 8.6% in June 2025 from 7.1% a year ago, while DPD 91-180 edged up to 2.1% from 2.0%, and DPD 31-90 remained elevated at 2.8%.

The loan stress was highest in Delhi, followed by Uttar Pradesh, recording some of the highest delinquency rates at 3.5% and 3.4%, respectively, within the DPD 31-90 bucket as of June.