Akshay and Vinay, recouvreurs debt of a subsidiary of a major automobile manufacturer that specializes in credit, will often relax in a garden in the centre of Gurgaon. This city in the State of Haryana, located on the outskirts of New Delhi, studded with towers of glass and residential complexes secured, is out of the ground in a few decades, at the same time as the economic takeoff of India. We buy apartments, tvs, and cars, sometimes on credit.
In the garden decorated with replicas of mughal palaces and fountains, Akshay and Vinay take a nap in the shade of the trees, and love to tell the story of the past “stories” of their clients. One who, for example, “hid in the water tank on the roof” or “simulated a serious illness” in order to delay the repayment of its loan. Since they have no land to cultivate in Gurgaon, these ancient farmers in the middle of the wrestler were converted in the recovery of debts.
The explosion of consumer credit gives them a lot of work. In February, their stock was up 20 % year on year, compared to only 1% for the industry. A rise that is expected to slow due to the increase in the main interest rate of central Bank of India, 6 June. “The more a country consumes, the more he becomes indebted, welcomes Rajan Pental, managing director of the bank details for Yes Bank, India will become the third-largest market inside the world by 2025, while the ratio between credit and GDP [gross domestic Product] is currently one of the lowest. “
“The market for consumer lending is not without risk ”
The arrival of new actors, in particular companies specialized in the consumer credit on the Internet, could upset the market. “With only 4 % of the population who can qualify for a loan in traditional banks, the potential…