Bajaj Finance Sets Festive Record with Consumer Loan Surge

Bajaj Finance, part of the Bajaj Finserv conglomerate, announced remarkable growth in consumer loan disbursements during the recent festive season, reporting a 27% increase in volume and a 29% rise in value compared to the previous year.

"The government's next-generation GST reforms and personal income tax changes have given a fresh push to India'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 confidence during the festive season," said Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv Ltd.

This surge reflects the benefits of the government's GST reforms and personal income tax changes, which have significantly enhanced consumer spending capacity. Bajaj Finance's statement underscores how these measures are fostering financial inclusion and broader economic growth across urban and rural markets alike.

During the festive period, Bajaj Finance disbursed approximately 63 lakh loans and acquired 23 lakh new customers, a large portion of whom were first-time borrowers accessing formal credit. The trend also indicates a growing preference for premium consumer goods, aided by reduced GST rates on products such as televisions and air conditioners — a shift that mirrors India's evolving middle-class aspirations and purchasing power.