The business loan market has been steadily expanding in India, though the contribution of commercial banks seems to have dropped. According to RBI, the year-on-year growth of bank loans to the industry fell to 7.8% in January 2024 from 8.7% in the previous year. However, NBFC’s industrial credit outflows doubled from 6.1% to 12.8% during 2022-23, with industry analysts predicting the robust growth to continue. To make the most of upcoming opportunities, business leaders must reinvent their lending automation processing systems. They must devise fresh strategies that are equipped to handle emerging needs.