3 weeks ago
74% of Indian adults took a loan in last decade
India is a big country where grown-ups use money to buy things.
Long ago, most grown-ups had never borrowed money from a bank.
Ten years back, only about one in three had taken a loan at least once.
Today, almost three out of every four Indian adults have borrowed money from a bank at least one time.
That is what a brand-new report from a company called TransUnion CIBIL tells us.
The government and banks worked together to make this happen.
They opened free bank accounts called Jan Dhan accounts for people who did not have one.
They also used identity cards, mobile phones, and quick digital payments to make borrowing easier.
Farmers and women got special help so they could borrow money for their work.
But a leader warns that borrowing money to gamble on stocks could get people into trouble.
TransUnion CIBIL's new report says 74% of India's credit-eligible adults had taken a retail loan at least once by March 2026.
The share of 'ever-credited' consumers more than doubled from 35% in March 2017 to 74% in March 2026.
India's credit-eligible population grew from 79 crore in 2017 to 89 crore consumers in 2026.
Financial inclusion tools such as Jan Dhan accounts, the JAM trinity, self-help groups, Kisan Credit Cards, and UPI helped expand credit access.
Unsecured and gold loans grew because borrowing became simpler, but experts warn such loans could turn counter-productive if used for speculation.
- Who
- India's credit-eligible consumers (89 crore by 2026), banks, the government, and the Reserve Bank of India; the data comes from a TransUnion CIBIL report.
- What
- The share of credit-eligible Indians who have taken retail credit at least once more than doubled, from 35% in March 2017 to 74% in March 2026.
- Where
- India.
- When
- Between March 2017 and March 2026.
- Why
- Financial inclusion measures such as Jan Dhan accounts, Direct Benefit Transfers, the JAM (Jan Dhan-Aadhaar-Mobile) trinity, self-help groups, Kisan Credit Cards, and digital payments like UPI broadened access to formal credit.
Credit expansion optimists
Credit risk caution
Rising retail and gold loans
Credit expansion optimists
Growth is orderly, encouraged by the RBI, and fills income gaps for productive use as part of wider financial inclusion.
Credit risk caution
If such credit is used for speculative investment or volatile equity markets, these loans could become counter-productive.
Key facts
- Report publisher
- TransUnion CIBIL
- Ever-credited consumers (March 2026)
- 74% of credit-eligible population
- Ever-credited consumers (March 2017)
- 35%
- Credit-eligible population (2017)
- 79 crore
- Credit-eligible population (2026)
- 89 crore
- Key growth drivers
- Jan Dhan accounts, Direct Benefit Transfers, JAM trinity, self-help groups, Kisan Credit Card, Rupay, UPI
- New initiative
- Frictionless Credit / United Lending Interface (ULI) by RBI
- Expert quoted
- M Narendra, former CMD of Indian Overseas Bank
Quotes
M. Narendra
Former chief managing director of Indian Overseas Bank
“We must give credit to the efforts put in by banks with the supportive policies of RBI and schemes and guarantees provided by the government for directed credit becoming successful.”
thehansindia.com
Sources
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