Xiaomi set to enter Indian consumer lending market with Mi Credit

Xiaomi set to enter Indian consumer lending market with Mi Credit

A "MI" logo stands outside the main entrance of the Xiaomi Corp. headquarters in Beijing, China. Photographer: Edmond Lococo/Bloomberg

China’s Xiaomi is poised to launch a consumer lending business in India in the coming weeks, making an ambitious tilt at the booming financial services market where data privacy concerns and fierce competition present formidable challenges.