Digital initiatives to triple Indian retail borrowing to USD 2.5 trillion by 2030: S&P Global
Sunday, 4 August 2024
S&P Global Ratings reported that state-backed digital initiatives in India could lead to a tripling of retail borrowing by 2030, raising household debt to USD 2.5 trillion. Despite a rise in financial inclusion, credit penetration remains low. Micro-loans to low-income earners may grow, and finance companies dominate mass-market loans.
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