India's Credit Growth Spreads Beyond Big Cities as Inclusion Grows

In India, more and more people are borrowing money these days.

Some borrow to buy a house, a vehicle, or to start a business.

Some borrow instead of selling their savings, because they think the loan costs less than the money their savings could earn.

Lending is growing fastest in villages and small towns, not just big cities.

People can even get very small loans, like ₹5,000, using phone apps.

India still borrows much less than richer countries, so there is plenty of room to grow.

Many young people are starting to borrow, so it is important they learn how loans work.

Some people, like farmers, gig workers, and women starting businesses, are harder for banks to understand.

Banks and technology companies are working together to make credit fairer and easier for everyone.

If done carefully, this can help India become a stronger economy.