28
Mar
#GensZCreditTransUnionCIBILCMI Report #UnionCIBILCMI Report Chandigarh: India’s retail credit growth continued to moderate in the quarter ending December 2024, particularly among New-to-Credit (NTC)1 consumers. This was most evident for consumption-led credit products originated by NTC consumers, which saw a 21% year-over-year (YoY) decline in loan originations, compared to a decline of 2% for consumers with existing credit. Consumption-led products are defined as credit cards, personal loans and consumer durable loans. Originations are a measure of new accounts opened and are driven by both consumer demand and lender supply. Lenders’ cautious approach to the origination of consumption-led credit products disproportionately affected NTC…
