In the case of commercial enterprises, number of credit eligible customers has increased to 8.7 crore in March 2026
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The compounded annual growth rate of credit-active consumer base in India’s credit ecosystem has moderated from 14 per cent during the March 2017-March 2019 period to 9 per cent during March 2024-March 2026 period, indicating a transition from a phase of rapid expansion to one that requires more deliberate and targeted strategies from lenders, according to TransUnion CIBIL.Credit active consumers are those who have at least one retail loan with balance or limit reported on the portfolio date.This shift underscores the need to move beyond broad-based growth toward a model that is both inclusive and sustainable, where new borrower segments are brought into the ecosystem while existing consumers engage more deeply and responsibly with credit, the Credit Information Company (CIC) said in its report “Unlocking Access: Journey of Credit Expansion in India.”inclusive credit participation““Growth is moderating and the path forward demands a sharper focus—not just on expanding access, but also on enabling responsible, sustainable and inclusive credit participation.“The increasing engagement of women, younger borrowers and consumers from semi-urban and rural markets is reshaping the landscape, while improvements in credit awareness, digital access and borrower maturity are strengthening the system from within,” said Bhavesh Jain, MD & CEO, TransUnion CIBIL.The aforementioned development occurs as India’s credit ecosystem reaches an inflection point, with credit penetration expanding significantly, reaching nearly 28 per cent of the eligible population, up from 11 per cent as at March-end 2017, according to the report. The number of credit eligible customers (the total adult population aged between 18 to 60 as of period end, based on population estimate from the World Bank Database) has increased to 89 crore in March 2026 from 79 crore in March 2017.Nearly three-fourths of India’s population (74 per cent as at March-end 2026 against 35 per cent as at March-end 2017) has accessed credit at least once, with early growth primarily driven by expanding credit access.Despite this progress, credit penetration remains below 80 per cent levels in developed markets such as the US and Canada, indicating significant headroom for growth, TU CIBIL said.There has been a decline in new-to-credit (NTC) originations from 32 per cent as at March-end 2017 to 13 per cent as at March-end 2026, highlighting a key opportunity to fuel the next phase of expansion.Commercial enterprisesIn the case of commercial enterprises, number of credit eligible customers (CII reported entity population as of period end) has increased to 8.7 crore in March 2026 from 6.3 crore in March 2017.However, ever credited enterprises (entities who have ever availed a commercial loan as of period end) and credit active enterprises (entities who have at least one commercial loan with balance or limit reported on the portfolio date) declined to 41 per cent (from 50 per cent in March 2017) and 9 per cent (10 per cent), respectively.NTC origination in the case of enterprises (entities who originated their first ever loan, reported on commercial bureau, of the total entity originations in the 3-month ending period, with commercial entities with exposure up to Rs 100 crores being considered as of period end) is down to 39 per cent from 60 per cent.With growth moderating and the borrower base expanding, NTC customers and MSMEs represent the next growth frontier, the report said.Published on July 30, 2026
