India's credit ecosystem resilient despite Covid-19 pandemic: Experian

The credit information bureau says in a report India's consumer credit market is projected to grow at a higher rate than most major economies globally

The second wave of Covid-19 has hit the new sourcing of loans but India's credit ecosystem remains resilient, according to credit information bureau Experian.

There has been gradual and steady improvement in sourcing trends. New sourcing crossed the pre-Covid-19 level in October 2020. However, sourcing volumes declined from January 2021 onwards due to the second Covid-19 wave and lockdowns being imposed.

Experian and Invest India, the national agency for investment in the report “A Review of India’s Credit Ecosystem” said India’s consumer credit market is  projected to grow at a higher rate than most major economies globally.

The credit portfolio