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.

In its "Economic Outlook Asia-Pacific report," S&P Global highlighted several factors expected to influence India's economic trajectory in the coming year. Among these factors are anticipated higher interest rates, a crackdown on unsecured lending, and efforts to reduce the fiscal deficit.