Summary:

Demand for personal and vehicle loans, including two- and four-wheelers, has increased by 12% in the previous four months, according to TeamLease Services. As the Christmas season approaches, India's BFSI industry braces for higher client activity. Job vacancies in retail lending, microfinance institutions (MFI), and payment services are expected to grow from 12,000 to 19,000. MFI services are predicted to increase by 25%, demonstrating the sector's emphasis on financial inclusion and small-scale lending.

Hiring in payment services is forecasted to expand by 41%, while job vacancies in the credit card sector are likely to increase by 32% due to digital payment solutions and holiday credit options. To satisfy increased market needs, financial institutions are expanding their personnel and training current employees. Mr. Krishnendu Chatterjee of TeamLease Services emphasized the sector's transformation, citing a significant increase in demand for qualified professionals, ensuring preparedness to provide superior service during the hectic holiday season.

Source: IBEF 

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