Recently, I came across the discussion between Nithin and Nikhil Kamath of Zerodha on India’s lending ecosystem. While I deeply admire their success and the clarity of their insights, I firmly disagree with the notion that “India is a poor country” or that unsecured lending isn’t in our DNA.
If our nation were truly poor, how did millions of first-generation entrepreneurs, shopkeepers, students, and gig workers build livelihoods and enterprises from scratch often with nothing but courage, conviction, and a dream?
Unsecured lending is not charity. It is confidence in India’s middle class, belief in its entrepreneurial spirit, and faith in the self-made generation that drives our economy forward every single day.
At My Mudra, we’ve witnessed this transformation firsthand thousands of small-ticket borrowers turning aspiration into achievement, becoming consistent payers, and building creditworthiness through integrity and effort.
As MD and Chairperson of My Mudra, I firmly believe that India’s unsecured business lending has tremendous potential, especially in a nation with such a vast, young, and ambitious population. This segment is not a risk; it’s an opportunity one that can redefine financial inclusion and grassroots entrepreneurship at scale.
Moreover, with the RBI’s progressive regulatory framework, India today boasts one of the most robust, transparent, and tech-driven credit ecosystems in the world. Technology, data, and AI have empowered us to assess intent as accurately as income reshaping how we understand creditworthiness itself.
The future of lending doesn’t lie in fear it lies in innovation, empathy, and inclusion.
So yes, India doesn’t need less lending. India needs smarter, more inclusive, and deeply empathetic lending. Because when you trust India ,India pays back with growth.
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