Rising Bharat Summit: Digital Loans to Reach Tier-3 to Tier-5 Cities

• The News18 Rising Bharat Summit 2026 featured discussions on the future of loans in India.
• PhonePe Lending CEO Hemant Gala highlighted efforts to extend digital loan facilities to customers in Tier-3, Tier-4, and Tier-5 cities, towns, and villages.
• Gala noted a new phase of formalization in India, aiding in understanding spending and borrowing patterns for secure credit provision.
• Equifax India MD Aditya B. Chatterjee revealed India lost approximately 34,000 crore rupees last year due to scams.
• Chatterjee observed that default rates are significantly higher for small loans (0-15,000 rupees) compared to larger loans (over 1-2 lakh rupees).