Mumbai, Sep 25 (IANS) Digital lenders in India disbursed 2.64 crore loans worth Rs 37,676 crore in the first quarter of this fiscal, a volume growth of 15 per cent and a value growth of 27 per cent (year-on-year), a report showed on Wednesday.

The average ticket size for loans disbursed in Q1 FY25 was Rs 12,997, a 16 per cent increase from Q1 FY24, according to data from the Fintech Association for Consumer Empowerment (FACE).

The data affirms strong customer demand for digital credit and its pivotal role towards the country’s financial inclusion.

“Member companies responsibly meet customers' credit needs within the regulatory guardrails of customer protection and prudent risk management, earning the trust of the customers and stakeholders,” said Sugandh Saxena, CEO at FACE.

Data also signals the industry's adaptability to overall macro conditions and alignment with the policy objectives.

Eleven companies with quarterly disbursements over 5 Lakh contributed 93 per cent of the total volume in the April-June period.

Nearly 55 per cent of companies reported growth in volume and 80 per cent in value in Q1 over last year. About half the companies reported QoQ de-growth in disbursement volume and value in Q1.

About 54 per cent of loans disbursed were through own/in-house NBFCs.

Of the 33 companies in this report, 27 reported an asset under management (AUM) of Rs 47,362 crore (as of June), which is 80 per cent of the total disbursement value.

Among the 27 companies, 10 have AUM exceeding Rs 1,000 crore, five are in the Rs 500-1,000 crore range, five fall between Rs 100-500 crore and seven have AUM below Rs 100 crore, showed the data by FACE, a Reserve Bank of India-recognised self-regulatory organisation in the fintech sector.