Credit Market Indicator - January 2025

Leverage the benefits of credit monitoring for your business and customers

India’s retail credit growth continued to moderate in the quarter ending September 2024 due to a general cooling in the rate of credit demand growth and a decrease in credit supply across most loan products. Additionally, credit performance for consumption-led loans – defined as credit cards, personal loans and consumer durable loans – deteriorated compared to the same period last year. These were some of the findings of the TransUnion CIBIL Credit Market Indicator (CMI)1 report for the quarter ending September 2024.

  • Growth in credit demand was still positive but at a two-year low, while credit supply declined across most products 
  • Portfolio balances grew at a slower pace across products, except credit cards 
  • Defaults increased among borrowers with both secured and consumption-led loans, highlighting the need for active portfolio management

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