{
  "id": 7434527,
  "title": "First-time borrowers deepen credit reach: Credit uptake among eligible Indians more than doubled to 74% in March from 35% in 2017",
  "url": "https://urgent.news/2026/09/14/first-time-borrowers-deepen-credit-reach-credit-uptake-among-eligible",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-14T18:42:14.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/first-time-borrowers-deepen-credit-reach-credit-uptake-among-eligible-indians-more-than-doubled-to-74-in-march-from-35-in-2017/articleshow/134249548.cms"
  },
  "original_language": "en",
  "account": "India's credit uptake among eligible individuals saw a more than doubling from 35% in March 2017 to 74% in March 2022, according to data from credit information bureau TransUnion Cibil. The eligible population, estimated at 890 million, is increasingly accessing credit for various purposes. Consumer durable loans emerged as the primary entry point for first-time borrowers, constituting about 46% of the volume of new credit originations in the first quarter of the fiscal year, followed by gold loans at 18.3%. Microfinance institutions, which had previously reduced lending to new-to-credit customers during periods of asset quality stress, are now expanding their reach to these borrowers. Consumer durable loans and gold loans experienced the most significant increases, growing by 36.6% and 62.2%, respectively, in the most recent quarter.",
  "summary": "Consumer durable loans are leading new-to-credit customers into institutional borrowing. Gold loans and microfinance also significantly contribute to this growing credit access. Institutional credit penetration is expanding beyond major cities into smaller locations. India's retail credit portfolio has seen substantial year-on-year expansion. This trend indicates increasing financial inclusion…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}