Indian non-banking financial companies (NBFCs) like Jio Financial Services and Piramal Finance are using artificial intelligence to streamline lending and collections. Piramal Finance reported that its AI-driven collections platform reached ₹1,019 crore in monthly hands-free recoveries in Q1 FY27, up from ₹84 crore in Q1 FY26. Jio Financial Services utilizes approximately 130 AI agents to manage tasks in risk, compliance, and auditing, and by processing over 800 behavioral attributes, it has reduced credit assessment turnaround times by 76%. The firm aims to lower operational costs by 30% through its agentic AI initiatives. By reducing manual effort in back-office processes by up to 40%, NBFCs can potentially achieve better operating leverage. Both companies have publicly stated that their workforce remains stable, positioning AI as a tool to handle repetitive tasks. Piramal Finance used AI tools to assist in the recruitment of over 260 sales staff. While these tools improve efficiency and profit margins, companies emphasize that AI is being used to support employees rather than replace them.