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3 million bottom of pyramid borrowers lost formal credit as rules tighten in fintech
Economy
Published on 24 April 2026
A tightening crackdown may be shutting out millions
An estimated 3 million bottom-of-the-pyramid borrowers have lost access to formal financing over the past nine months, raising concerns that regulatory tightening is diluting India’s financial inclusion push. The shift appears to be hitting lower-income borrowers hardest, potentially reversing gains made by fintech and lenders in expanding credit access to underserved communities.
- Around 3 million BoP borrowers reportedly lost formal financing access
- Regulatory tightening is being blamed for restricting credit flow
- Fintech driven inclusion gains may be under threat
- Lower-income borrowers appear most affected by the change
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times