While partners, including NBFCs and banks, are showing greater interest, they may also focus on other asset classes such as loans to micro, small, and medium enterprises (MSME) and home loans due to higher risk weights for personal loans.

The Indian economy with a GDP growth of 6.8 per cent is expected to remain the fastest-growing large economy in the current fiscal. The growth will, however, moderate from 7.6 per cent expected in 2023-24 as high interest rates and lower fiscal impulse to growth will temper demand, according to Crisil.