Economic TimesLean R·
First-time borrowers deepen credit reach
Institutional credit penetration among first-time borrowers is deepening, driven by easy access to consumer durable loans, expansion of gold loans and microfinance, showed credit information bureau data.TransUnion Cibil, India's largest credit information company, pegged the credit eligible population at 890 million as of this March. About 74% of them took credit at some point in their lifespan while 13% are first time borrowers.The share of eligible Indians availing credit at least once more t…
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