About Us


The fourth largest growing economy of the world with a projected size of $5 Trillion by 2025, (according to Morgan Stanley), the Indian economy is thriving and as vibrant as ever. Its demographic advantage, strong government policy actions and a push towards digitization of the economy, have placed the country on the global list of high potential growth markets.

The Indian consumer has increasingly high aspirations from life, and a high urgency to fulfill them. A growth in consumerism is driven by higher disposable incomes, high propensity to spend, and a greater affinity to purchase based on “wants”, rather than “needs”. Furthermore, the Indian consumer is going digital and how. The second biggest smartphone market in the world, the millennial Indian is digitally empowered and not afraid to make quick purchases at the convenience of a fingertip.

Through the last few years, there has thus been a growth in consumer credit, fueled by increased awareness amongst consumers regarding various loan schemes, and a greater acceptability amongst consumers regarding opting for loans. With a spurt in consumer finance providers, it’s imperative that the sector follow safe and responsible lending practices, that have the consumer’s best financial interest in mind at every step of the way.

It is with this key objective, that the Indian Institute of Management, Lucknow has embarked upon this project with the Financial Planning Standard Board, to map the consumer finance market in India and assess individual credit providers on parameters of responsible lending. The ultimate objective of this study is to create a tool that can help consumers select a lending partner who not only is compliant, but goes a step beyond to ensure a responsible lending experience and contributes to improving their level of financial literacy.

Project Goals

The Navigator of Responsible Lending aspires to create a platform that reflects the state of consumer finance with respect to responsible lending practices in the country and improve the overall quality of services towards customers.

The key objectives of the project are:

  1. Map and describe the India consumer lending market
  2. Assess the quality of service provided by individual providers with respect to responsible lending and their efforts to improve financial literacy
  3. To provide the consumer with a tool to judge the various consumer lending providers and for market payers to use as a benchmark of service quality