Retail credit enquiries zoom 54% in February-October, shows data

Increased demand visible across consumption products

The inquiry volumes for consumer loans increased by 54 per cent in the February-October period as India’s economic activity accelerated, driven by demand during the festive season.

According to TransUnion CIBIL data, the number of enquiries had shrunk by 12 per cent compared to the same period the previous year.

The increased demand is visible across consumption products, including personal loans, credit cards, and consumer durable loans, with public sector banks leading the resurgence. There has been a comparable increase in consumer demand against supply.

Rajesh Kumar, managing director and CEO of TransUnion CIBIL, said lenders adapted quickly to the shift via digital