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If I have to implement something like Money Lending Business on a Private - Enterprise level in India provided the facts that -

  1. I don't want to reward the miners as it's a private network.

  2. I want to execute smart contracts in INR. currency (Smart contract use case - A is lending some money to B on a agreed interest rate, expects that back after 6 months of span.)

Is Ethereum platform be a help for me? Or else any other options too exist? Any suggestions about how can we do that ?

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From what you described, I think you're looking for a private/permissioned blockchain solution, there are a few solutions out there including :

  • Hyperledger Fabric by IBM just hit 1.0 in July
  • Quorum is an "enterprise-focused version of Ethereum" as described on the JP Morgan website
  • Corda by R3

How do you expect the smart contract to enforce the debt collection ? you'd need to keep some kind of collateral in the contract ...

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Hyperledger is useful for your problem statement as mining is not required in the process, however for ethereum based architecture mining will be required.

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