Bajaj Finance, a part of Bajaj Finserv , on Tuesday said it disbursed a record number of consumer loans in the festive season, registering a 27% growth in volume and 29% in value year-on-year. The company has attributed this growth in consumption finance to the positive effects of GST reforms and changes in personal income tax slabs.

From September 22 to October 26, Bajaj Finance disbursed 6.3 million loans and acquired 2.3 million new customers, 52% of them being new-to-credit and first-time customers.

Sanjiv Bajaj, chairman of Bajaj Finance, said the government’s next-generation GST reforms and personal income tax adjustments have provided a significant boost to India’s consumption-driven growth. He pointed out that by making everyday products more affordable, these measures have e

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