Credit card penetration lower in India despite asset quality improvements: CIBIL
TransUnion CIBIL reports that credit card penetration in India remains low at 25% despite significant growth in the number of cards and outstanding balances. The report highlights that credit cards face stiff competition from alternative payment methods like UPI and personal loans.
Why it matters
Understanding credit penetration is crucial for assessing India's financial inclusion progress and the evolving consumer credit landscape in a digital-first economy.
Credit card penetration in the country has been low when compared to even developing countries despite a variety of tailwinds like improving delinquency levels, a top official at TransUnion CIBIL said on Wednesday (July 7, 2026).
The article presents data-driven insights from a credit bureau without taking a political or ideological stance.
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