Highlights from Credit Market Indicator (CMI) Report March 2026

Añadido: 2026-05-16

[00:00:01][music] >> India's retail credit market continues to evolve and the latest credit market [music] indicator shows clear signs of strengthening and improved performance in 2025.

[00:00:18]The TransUnion CIBIL Credit Market Indicator, March [music] 2026, provides a comprehensive view of the health of India's lending ecosystem, tracking trends [music] across demand, supply, consumer behavior, and credit performance.

[00:00:35]In the quarter [music] ended December 2025, the Credit Market Indicator rose to 102, [music] marking the third consecutive quarter of improvement quarter on quarter.

[00:00:50]This points to a strengthening credit market [music] ecosystem, even as there are indications of seasonal [music] moderation post the festive period.

[00:01:00]On the demand side, growth was driven largely by semi-urban and rural market, >> [music] >> which now account for 54% of the total borrower base.

[00:01:12]>> [music] >> At the same time, the share of new-to-credit consumers increased to 15% of total borrowers, [music] pointing to deeper financial inclusion and broader access to formal credit.

[00:01:28]On the supply side, the CMI rose to 98 in the December [music] 2025 quarter, led by strong growth in gold loans, supported [music] by a sharp rise in global gold prices.

[00:01:44]Since [music] March 2023, average gold loan ticket sizes [music] have increased nearly 1.8 times, making gold [music] loans the largest retail product by volume and value.

[00:02:00]Consumption [music] led credit is also reviving the first-time borrower [music] segment.

[00:02:06]First-time borrowers grew 7% year-on-year, driven by strong [music] growth in personal loans and consumer durable loans.

[00:02:17]Borrowers [music] under the age of 35 now account for nearly 60% of this segment, highlighting [music] the growing influence of younger consumers in India's [music] credit economy.

[00:02:31]Encouragingly, credit performance has [music] improved across most retail products.

[00:02:37]Lower delinquency [music] levels helped the performance indicator rise by six points, reflecting improved repayment behavior [music] and continued focus on credit discipline.

[00:02:51]Together, these trends [music] point to a more balanced, inclusive, and resilient credit market.

[00:02:59]To read the full Credit Market Indicator [music] March 2026 report, visit TransUnion CIBIL's website.