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The Hindu·4 min read·medium

Credit card penetration lower in India despite asset quality improvements: CIBIL

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Credit card penetration lower in India despite asset quality improvements: CIBIL
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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.

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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).

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