Mumbai, November 2025.
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 are cord number of consumer loans, higher by 27% in volume and29% in valueas 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 incometax, aimed at increasing consumers’ purchasing power.
BajajFinancedisbursedapproximately63lakhloansfromSeptember22toOctober26, 2025. During this period, the company acquired 23 lakh new customers, ofwhich 52% were new-to-credit,thus significantlyadvancingfinancial inclusion.
Sanjiv Bajaj, Chairman, Bajaj Finance,
said, “The government’s next
generation GST reformsandpersonalincometaxchangeshavegivenafreshpushtoIndia’s
consumption-led growth story. By making everyday products more affordable,
these measures have empowered millions of middle and lower-income families to
spend with confidenceduring the festiveseason. The positiveimpactisnotonly
evidencedin the 27% higher disbursement of consumption loans, but also a
premiumization trend with consumers shifting to higher-quality products for
better lifestyles.”
“Overhalfofournewcustomers
duringthisfestiveseason arenew-to-credit,takingtheir first
loanfromtheformalfinancial system. WithBajajFinance’sdigitalplatformsandon-
groundpresenceat239,000activedistributionpointsacross4,200locationsPan-India,
we continueto deepenfinancial inclusion and power the rise ofthe Indian consumer,” he added.
Lower GSTfortelevisions (TVs) and air-conditioners have helped consumers to reduce theiraverageticket size ofloans by6%,whilst enablingthemto upgradeto higher-end products. Consumerfinancing forTVs saw a clear premiumization trend with loans for 40- inchsandabovescreensaccountingfor71%ofthetotalTVsfinancedbythecompanyas compared to 67% last year.
Asadiversified,tech-drivennon-bank,BajajFinanceisfocusedoncontinuousinnovation to expand access to credit andtransform experiencesforconsumers and businesses.A leadingproviderofconsumerfinance,ithasasignificantpresenceinfinancingofmobile phones, consumer electronics, home appliances, furniture, rooftop solarpanels and many more consumption-led categories.
BajajFinanceservesacustomerfranchiseof110millionthroughitsdigitalplatformsand on-ground distribution points. For enhanced transparency, it provides customers Key FactStatementsaspartofloanagreementsin19languages.TheBajajFinservApp,with netinstalls of75.1million asonJune 30, 2025, offers seamless experiencesandfaster access to credit, deposits, insurance and investments.
TheNextGenerationGSTreformsunveiledbytheHon’blePrimeMinisterShriNarendra Modi in September, marked the start of ‘GST Bachat Utsav’ – a landmark step that simplified and reduced tax structures to reduce burden on households, fulfil people’s aspirations while also enhancing the ease of doing business for entrepreneurs, traders andMSMEs.ThereformsareseenasoneofthebiggestsincetheintroductionoftheGST in2017.TherestructuredGSTratecoupledwithincometaxcutsin2025haveaimedto boost the purchasing power of Indian households and strengthen India’s vision of inclusivegrowth.
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