TransUnion CIBIL has recently come up with Credit Market Indicator (CMI) for the quarter ended September 2023. The CMI value provides a holistic measure of credit market health, covering demand, supply, consumer behaviour, and performance. India’s retail lending showed moderated growth during July-September 2023 as lending tightened. Here are four visualisations on the changing landscape of consumer credit.

The CMI for September 2023 stood at 103, marking a four-point increase compared to September 2022 and sustaining the upward trajectory from a low of 88 in September 2021.

The share of credit demand from rural and semi-urban regions increased by 300 bps YoY in September-2023.

The expansion in credit lending decelerated across all product categories, notably experiencing a significant decline in home loans. This downturn in home loan growth can be attributed to a decrease in the issuance of loans valued at less than ₹35 lakhs, which constitute over three-fourths of the overall loan origination volume.

Credit penetration among young consumers (aged between 18 to 25) is rising faster on a y-o-y basis compared to other age groups.