 "consumption, Credit, consumer durable loans, finance")
Retail credit growth moderated further in the quarter ended December 2024 mainly among new-to-credit (NTC) consumers for consumption-led credit products, according to TransUnion CIBIL’s latest report.
Consumption-led products include credit cards, personal loans, and consumer durable loans.
Loan originations dropped 21 per cent year-on-year Y-o-Y in the quarter ended December 2024, compared to a decline of 2 per cent for consumers with existing credit. Originations are a measure of new accounts opened and are driven by both consumer demand and lender supply.
The cautious approach by lenders to the origination of consumption-led credit products disproportionately affected NTC borrowers as 40
