Demand for retail credit makes a comeback in November: CIBIL report

Although year-on-year growth across key metrics has yet to reach pre-pandemic levels, there has been positive momentum for credit demand

The demand for retail credit products in India has steadily increased in recent months including November 2020 following the initial shock from the Covid-19 pandemic earlier this year, according to TransUnion CIBIL’s Industry Insights Report.

Although year-on-year (YoY) growth across key metrics has yet to reach pre-pandemic levels, there has been positive momentum for credit demand.

In November 2020, retail credit demand (as measured in inquiry volumes) was back at 93% of the levels observed in November 2019, and was significantly up from the low levels observed during the early months of the pandemic.

Abhay Kelkar, vice president of research