I have searched a Magento extension for EMI options, but i didn't see any available extensions, if anyone knows any payment extensions including EMI please reply, or how to develop an EMI extension for magento? i am new in Magento family
plugins - Magento community store have any EMI extensions?
There is one module by Salesignitor. Maybe its helpful to you. Currently iam using it for one of my stores*(not live yet)*.
And yes, the module offers paypal/Authorize.net for recurring billing. I couldn't find any other payment gateway which supports recurring payments(online) as is for magento in India. You can find it here