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Disadvantages Of Consumer Durable Loans

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2.INTRODUCTION The lifestyle of people across the world is developing rapidly. As there is a growing concern for people about the lifestyle and way of living, the scope for the microfinance industry is also at a growing pace. A large number of people across the world prefer finance for the purpose of purchase of consumer durables as well as lifestyle products. As the credit card EMI options are more expensive, people prefer NBFCs for the purpose of consumer durable loans. The project done in bajaj finserv explains the role of NBFCs in the consumer durable loans and the procedure undertaken in order to disburse the consumer durable loans. 2.1 INDUSTRY OVERVIEW The companies that provide financial service to the commercial as well as the retail customers are known as financial sector. A large variety of companies comes under the financial sector. These include banks, investment funds, insurance companies etc. the scope of financial sector is more in countries were the interest rate is low. The Indian financial sector has a wide scope. India is undergoing rapid development. The infrastructure sector is under a developing pace. As the people prefer for an improved lifestyle and better infrastructure, the finance sector also grow rapidly. The financial services provided by the companies include gold loan, personal loan, vehicle loan, mortgage loan, consumer durable loans, insurance, extended warranty etc. Financing companies enable customers with lower

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