About The Indian Lender Association

In India, Indian Lenders Association is a foremost organization representing the visionary leaders loaded with innovative ideas. We are striving to be a renowned association in the sphere of Fintech. We are fostering the growth of those Fintech companies and NBFCs that are into lending business or providing other means of credit to businesses performing its operations on a small scale and also assisting the individuals associated with the finance-related business. The intent is to explore different ways of upgrading the sector.

At the Indian Lenders Association, we are creating awareness among the masses regarding innovative lending. In addition to this, we are granting a platform to Fintech companies to come up with their ideas and create an environment of exchange of information between the members associated with the Indian Lenders Association. Under the roof of the Indian Lenders Association, we are providing our members with the tools and various methods to innovate and prosper and to facilitate ethical as well as safe lending practices. We are certifying and improving Fintech organizations working protocols, primarily in activities related to finance.

Our Objectives

• To boost and help the Fintech Companies and other companies immersed in the business of lending.
• To support the lending business, furnishing other means of credit or facilitate financial assistance to business and other resembling organizations by visionary means to exchange notions and explore strategies of enhancing the sector.
• To lend our support by advancing legal advice & guidance on various legal matters, finance-related suggestions as well as assistance, and steering adequately on customer relationship management (CRM) as well.
• To back those business organizations that strives to compete with the conventional financial techniques in rendering financial services.
• To reshape the finance industry by taking the required appropriate measures.
• To provide the best realistic value to each member connected with the Indian Lenders Association (ILA).
• To make it possible for finance-oriented business organizations to win access to affordable credit facilities & other finance-related operations.
• To bring digital lenders – MSME and Consumer on a common platform.
• To join hands with the members of the industry, so that they can create a platform for sharing adequate practices.

Lucidity and Responsibility

• We reckon that clarity, along with transparency, must get maximized in all credit transactions. Responsible underwriting techniques aimed at making a practical assessment of the borrower's capability to make the payment needs to be employed in any credit extension. Responsible lending is a form of transparent lending.
• Imparting education related to financial matters has become the need of the hour. It must be taught in schools.
• Financial literacy of the borrower must be improved and enhanced to encompass basic skills related to budgeting, an awareness of credit products, and how some hold enormous or lesser trouble of continual indebtedness.
• Borrowers need to understand how to evaluate the loan cost, arranging longer loans and finance charges or the charge as a proportion of the amount funded for minor loans.
• The lending business must be based on the performance concerning its loans and its consumers' gratification.
• Responsible lenders don't look to take advantage of loans that fail, nor do they establish a debt cycle.
• Society should bolster responsible borrowing exercises and give prominence to accountability in decision-making at a personal level.

Regulation and Market Funding

• Market Funding provides an opportunity to the lenders to make reasonable loans to thousand or lakhs of qualified borrowers, and the Central Government should always encourage & safeguard a certain level of playing field between all the companies including all the financial services industry such as Finance Companies (NBFCs), Banks, and Credit Unions.
• Competition level and innovation level in the market always reduce price, increase consumers, and choose small businesses that help the consumers and small businesses in India.
• Regulation is a collaboration method between the parties and regulators that are easily affected by the recommended norms and regulations.
• The credit extension must be affordable by both the lender and borrower.
• All the borrowers, the government and the credit industries should work together to assist lending that allows borrowers to fulfil all their financial requirements through affordable credit.
• The secondary market is substantial to the constant availability of specific sorts of credit. So, the loan features that preserve investors having fixed-salary can give value to borrowers and investors.