Selling consumer financing products to India's vast middle class presents"limitless" opportunities over the next 10 years, according to one of the country's top business leaders.
But traditional banks have historically underserved this segment of borrowers. That's because the amount they borrow is comparatively lower and seen as unprofitable. "We're catering to the middle class and the upper middle class consumers," Bajaj told CNBC's"Street Signs." In the three months that ended Dec. 31, 2018, Bajaj Finance saw its consolidated assets under management grow 41 percent on-year and its gross non-performing asset ratio was around 1.55 percent. That happened against a backdrop where the lending abilities of other non-banking financial companies have been reduced.
India is 1 of the most racist countries n all the 🌍. There middle class is not built on hard work & education, but on the hue of skin color. anytime u make decisions based on color u will always lag behind. As Africa influence grows India economy will suffer due 2 their racism
Not true at all lol I was in India last month and never seen such poverty and have been so much lied to.