UP, MP and Bihar emerge as India’s new credit-growth engines
TransUnion CIBIL data show credit activity is moving beyond the biggest states: UP, MP and Bihar have gained share, while semi-urban and rural borrowers now account for 63% of credit-active consumers. Smartphones and consumer durables are increasingly serving as first-credit products.
TransUnion CIBIL says credit growth is shifting toward UP, MP and Bihar, with semi-urban and rural borrowers gaining share. Smartphones and consumer durables have overtaken two-wheelers as key first-credit products, signalling stronger financed consumption in smaller Indian markets.
Why this matters
The finding extends TransUnion CIBIL's recent view of Indian credit behavior, including cardholder personas, banks driving card use within existing bases, and cards losing ground to UPI and small-ticket loans.
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