·       Since August 2023, India’s gold loan balances have increased nearly threefold to touch ₹22.5 lakh as of August 2026

·       Two in five (42%) borrowers with prior credit stress at time of gold loan origination had returned to regular repayment across all active credit obligations 12 months later.  While the analysis does not establish causation, the findings highlight an observed borrower-level repayment pattern.

Mumbai, India, 5 November 2026 – India's gold loan market continued to expand in 2026, with outstanding balances reaching ₹22.5 lakh crore as of August, nearly three times the level recorded in August 2023. The market counted 5.5 crore active borrowers as of August 2026, accounting for 21% of India's credit-active consumers. Gold loan continues to be one of the fast growing credit products in the last  three years.

These findings come from TransUnion CIBIL's report Lending Unlocked: Gold Loans, November 2026, which examines gold loan portfolio growth, borrower participation, repeat borrowing and credit performance. The report found that gold loan sanction values rose 12% year-over-year (YoY) to ₹8.2 lakh crore during the three months ended June 2026, despite a 15% decline in origination volumes. Approximately 3.7 crore gold loans were disbursed during this period, while the number of unique borrowers originating a gold loan held broadly stable YoY at 2.4 crore. This indicates that the decline in origination volumes was not driven by lower borrower participation, but rather coincided with a shift towards larger-ticket loans. Loan originations of value greater than ₹2.5 lakh grew 19% YoY by volume, reflecting a shift towards higher ticket size loans.

Chart 1 – Indexed Growth in Originations

Source – TransUnion CIBIL credit bureau data analysis reported in “Lending Unlocked: Gold Loans November 2026”

Gold Loan Participation Remain Widespread Across Diverse Borrower Segments

Gold loan participation remained widespread across the country. Two-thirds of originations during Q2 2026 came from semi-urban and rural markets, and women accounted for two in five originations. The number of Gen Z² borrowers grew 19% YoY, and the share of borrowers with a CIBIL Score above 800¹ reached 40%, up four percentage points since the quarter ending June 2023. While southern states remain the foundation of India's gold loan market, recent growth has increasingly come from other regions, signalling broader acceptance of gold-backed credit beyond its traditional strongholds.

Repeat Borrowing Continues to Drive Growth in Gold Loan

The research found that gold loan borrowers have a markedly higher propensity for repeat borrowing compared with borrowers in other liquidity-oriented credit segments. Among low-risk borrowers who originated a gold loan between July 2023 and June 2025, more than one in two (57%) of consumers who availed a gold loan of ₹2.5 lakh or less and 54% of consumers who availed a gold loan of more than ₹2.5 lakh originated another gold loan within the following 12 months. Low-risk borrowers are defined as those with a CIBIL Score of 731 or above, have no loans 30 or more days past due in the preceding six months and no active liquidity-oriented credit products.

Compared with other liquidity-oriented credit products, gold loan borrowers were more likely to originate another gold loan. The percentage of borrowers who initially borrowed other liquidity-oriented products and subsequently originated the same type of credit product within 12 months was lower, as seen in the chart below. These products include personal loans of less than ₹1 lakh, personal loans of more than ₹1 lakh, credit cards and unsecured business loans. Subsequent originations included loans from any lender and may have involved renewals or top-ups. Understanding which customers return, borrow elsewhere, and how their total exposure changes can help lenders identify opportunities to deepen their relationship with existing borrowers.

Chart 2 – Repeat Gold Loan Originations and Comparison with Other Liquidity-Oriented Products

Source – TransUnion CIBIL credit bureau data analysis reported in “Lending Unlocked: Gold Loans November 2026”

Repayment Trends Among Previously Delinquent Borrowers

An additional analysis examined consumers who originated liquidity-oriented credit products between July 2024 and June 2025, had a CIBIL Score of 800 or below at the time of origination and had signs of prior stress. Three in ten borrowers (29%) who availed a gold loan of ₹2.5 lakh or less and 27% of borrowers who availed a gold loan of more than ₹2.5 lakh who originated a gold loan had at least one existing credit obligation that was 30 or more days past due in the month preceding origination. This was a higher incidence of prior credit stress than was observed for borrowers originating other products included in the study.

Among these previously delinquent gold loan borrowers, two in five (42%) were current (0 days past due) across all their loans 12 months later. This was higher than the corresponding proportions seen across other liquidity-oriented credit products included in the study.

Table 1 – Gold Loan Borrowers Exhibit Higher Prior Stress at Origination and Show Stronger Subsequent Repayment Outcomes

Source – TransUnion CIBIL credit bureau data analysis reported in “Lending Unlocked: Gold Loans November 2026”

The analysis measured repayment performance at the consumer level across active loans 12 months post origination. While the analysis does not establish how loan proceeds were used or whether a gold loan directly influenced subsequent repayment behavior, the findings highlight a notable borrower-level pattern observed at substantial scale.

Compared with other collateral-backed liquidity products, gold loans reach a significantly broader base of consumers, including borrowers exhibiting signs of prior credit stress. This underscores the importance of borrower-level risk assessment in addition to collateral coverage, when underwriting gold loans. A comprehensive view of a borrower's overall financial position can help lenders better identify risk, evaluate financing needs and support responsible portfolio growth.

Mr. Bhavesh Jain, MD and CEO, TransUnion CIBIL, said: "As consumers access gold-backed credit at different stages of their financial journeys, lenders need to look beyond the value of the pledged collateral to understand their overall borrowing requirements. Repeat borrowing, changes in credit exposure and repayment behavior across different products are important considerations when assessing a customer's financial position. A robust view of credit history, existing obligations and repayment capacity can help lenders identify suitable financing opportunities, strengthen customer relationships and manage portfolio risk responsibly."

Potential Early Risk Indicators Amid Improving Performance

Gold loan borrowers’ performance has improved over the last several quarters. The proportion of active gold loan borrowers with gold loan accounts 30 or more days past due declined from 2.0% in June 2025 to 1.4% in June 2026. Over the same period, the number of active gold loan borrowers increased from 4.8 crore to 5.4 crore.

An analysis of a sub-segment of five crore active gold loan borrowers in December 2025 with a CIBIL Score above 730, at least two years of credit history and no existing credit obligations that were 30 or more days past due as of December 2025, found that 7% experienced delinquency across their credit obligations between January and June 2026.

Certain borrower segments were more likely to be delinquent in the next six months. Consumers who had missed more than one payment in the preceding six months, were three times more likely to experience delinquency in the next six months. The corresponding multiples were two times among consumers holding business-oriented loans alongside gold loans and 1.4 times among those with non-mortgage outstanding balances of ₹5 lakh or more.

Chart 3 – Consumer-Level Performance and Early Risk Signals

Source – TransUnion CIBIL credit bureau data analysis reported in “Lending Unlocked: Gold Loans November 2026”

The evolution of the gold loan market reflects more than growth in balances. As the product reaches a broader set of consumers, supports larger ticket sizes and exhibits high levels of repeat borrowing among good borrower profiles, sustainable growth will increasingly depend on lenders combining collateral-based lending with a comprehensive view of borrower-level credit behavior and overall financial obligations.

Disclaimer: The findings presented in this report are based on analysis of historical credit bureau data and are intended for informational purposes only. Observed trends and borrower outcomes do not establish causation, nor should they be construed as predictions or guarantees of future performance. Lending decisions should be based on an independent assessment of each borrower's circumstances.

Notes:

1. The ranges for CIBIL Score or TransUnion CIBIL Enhanced CreditVision (CV4) are: subprime = 300–670; near prime = 671–730; prime = 731–800; prime plus = 801–850; super prime = 851-900.

2. Gen Z is defined as a consumer born between 1995 to 2010. Credit active consumers or credit eligible consumers in the age group 18-31 years in 2026 are Gen Z.

Mumbai, India, 14 April, 2026: Gold loans have grown rapidly to become India’s second-largest retail credit product by balance share¹. According to TransUnion CIBIL’s Gold Loan Landscape Report, gold loan balances have grown 3.8x since March 2022, with their share in India’s retail credit portfolio rising from 5.9% to 11.1% by December 2025. The growth reflects rising borrower adoption, higher ticket sizes, broader lender participation, and a borrower profile that increasingly includes consumers and women borrowers with more extensive credit histories.

The report shows that growth in the segment has been especially strong among NBFCs, which increased their share of gold loan balances from 7% in March 2022 to 11% in December 2025, and public sector banks which increased from 57% to 62% over the same period. The average gold loan balance per account increased from ₹1.1 lakh in March 2022 to ₹1.9 lakh in December 2025, underlining the rising scale of borrowing in the segment.

Chart 1: Gold Loan Industry Supply (Indexed)*

Note: Quarter ended March ’22 indexed at 100

Supply trends point to a sharp expansion in market activity. Gold loan origination volumes have grown 2.3x since Q1 2022, while origination value has increased 5.1x over the same period. The average ticket size rose from ₹90,000 in Q1 2022 to ₹1.96 lakh in Q4 2025, indicating that the market is not only widening in reach but also moving toward higher-value borrowing.

Borrower profiles are also changing. The share of prime and above prime² borrowers in gold loan originations rose from 43% in 2022 to around 52% in 2025, while New-to-Credit participation declined from 12% to 6%. This suggests that gold loans are becoming more broad-based and diverse in the borrower profiles.

Mr. Bhavesh Jain, MD and CEO, TransUnion CIBIL, said, “Gold has always held deep financial and cultural relevance in India, but what we are seeing now is a structural shift in how gold-backed borrowing is being used. Gold loans are increasingly becoming a mainstream, organised and accessible form of secured credit. Their rapid growth reflects both lender confidence and rising consumer acceptance.

“What is particularly notable is that the segment is drawing more borrowers with stronger credit profiles, larger ticket sizes and repeat usage. This is an indication that gold loans are no longer being used only for short-term liquidity needs but are becoming part of broader household borrowing behaviour,” he added.

A Broader Borrower Base is Driving Expansion

Women borrowers have emerged as an important growth driver in gold loans’ expansion. Women accounted for 39% of gold loan originations by volume in 2025, up from 36% in 2022, with strong growth visible not only in southern markets but also across western and northern states. The report highlights notable momentum among women borrowers in states such as Telangana, Uttar Pradesh, Rajasthan, Gujarat, Maharashtra and Madhya Pradesh, reflecting the broadening geography of demand.

The report also points to changing borrower leverage patterns. The average outstanding amount per borrower rose from ₹1.9 lakh in December 2022 to ₹3.1 lakh in December 2025, while the number of borrowers with gold loan exposure above ₹2.5 lakh increased to 14% of total borrowers at the end  of 2025, up from 10% in 2022. Borrowers with higher existing balances and greater unsecured exposure have also become more prominent at origination, indicating that gold loans are increasingly sitting alongside other forms of credit in borrower wallets.

Growth Must Be Balanced With Stronger Risk Discipline

The report also highlights the need for sharper borrower-level risk assessment as the segment grows. Based on the study, for gold loans originated in the six months ended June 2025, overall delinquency was 1.1% (delinquency being measured as any trade reported as 60 days past due within six months of origination). Borrowers whose post-origination gold loan outstanding amount exceeded ₹2.5 lakh showed a delinquency incidence of 1.5%, about 2.2x that of borrowers with lower exposure, at 0.7%. In addition, wallet concentration in gold loans, recent delinquency and high dependence on gold loans within the overall borrower wallet are important forward-risk indicators.

The report further notes that borrowers with a history of serious delinquency who subsequently rely on gold loans face a significantly higher risk of disengagement from the formal credit system. Their credit-access closure rate was around 1.6x higher than that of non-defaulting borrowers, suggesting that for a section of stressed borrowers, gold loans may increasingly be functioning as a product of last resort.

Mr. Jain added, “As the gold loan segment expands, lenders’ priority must be to balance growth with prudence. Collateral strength remains important, but it cannot be the sole criterion for evaluating borrowers. Lenders will need to assess total borrower indebtedness, repayment capacity, recent credit behaviour and cross-lender exposure more holistically. Stronger borrower-level loan-to-value checks, risk-based pricing, and closer monitoring of repeat reliance on gold loans will be essential to ensure that this important segment continues to grow in a sustainable and responsible way.”

¹ Housing Loans with 27.8% share by balance as of December 2025 forms the largest retail credit product

² CreditVision® (CV) score ranges are: Subprime 300–680; near prime 681–730; prime 731–770; prime plus 771–790; super prime 791-900

Mumbai, India, 31 March 2026 – India’s Credit Market Indicator (CMI)¹ rose in the December 2025 quarter both year-over-year (YoY) and quarter-over-quarter (QoQ), supported by strong growth in gold loans amid a sharp increase in global gold prices. However, retail credit supply normalised in the post-festive period, easing from the momentum created by the rationalisation of Goods and Services Tax (GST) and returning to end of 2024 levels, indicating a seasonal moderation in short-term demand.

TransUnion CIBIL’s March 2026 Credit Market Report indicates that the Consumer Credit Market Indicator (CMI) increased to 102 for the quarter ended December 2025, up from 97 in the quarter ended December 2024.The December 2025 CMI is also higher by two points from 100 in the preceding quarter of September 2025. The December 2025 quarter CMI marked the third consecutive quarter of improvement.

The CMI is a comprehensive measure of data elements that are summarised monthly to analyse changes in credit market health, categorised under four pillars: demand, supply, consumer behaviour, and performance. These factors are combined into a single, comprehensive CMI indicator, and can also be viewed in more detail individually. A higher CMI reading indicates improving credit market health, whereas a lower reading indicates a decline.

“There is evidence of a shift in retail credit growth dynamics, with momentum extending beyond secured products such as gold loans to rising consumption demand from first-time and younger borrowers. While the post-festive moderation in credit supply reflects seasonal trends, the overall improvement in credit performance reinforces the strength and maturity of India’s credit market,’’ said Mr. Bhavesh Jain, MD and CEO, TransUnion CIBIL.

Chart 1: Credit Market Indicator (CMI) Dec 2023 – Dec 2025

Non-metro Geographies, New-to-Credit² Consumers Drive Credit Demand

The CMI for demand increased to 96 in the December 2025 quarter from 92 in the December 2024 quarter, buoyed by strong demand from semi-urban and rural consumers. Their share of the total retail borrower base rose to 54%, an increase of three percentage points over the year-ago period. The share of New-to-Credit consumers also increased by one percentage point to 15% of total borrowers.

During the post-festive period, auto loan volumes improved in line with last year’s levels, primarily supported by increased supply in the affordable mid‑segment car category (INR 5–10 lakh). In the post festive period, the average daily supply grew by 10% in auto loans in 2025, compared to 2024.

Chart 2: CMI for Demand Dec 2023 – Dec 2025

“The continued expansion of credit demand in non-metro and semi-urban markets underscores the structural shift underway in India’s lending landscape. As access to formal credit deepens beyond traditional urban centres, we are seeing a more geographically diversified borrower base emerge. This trend reflects improving credit awareness enhanced distribution by lenders and the growing relevance of tailored products for these segments, all of which are contributing to a more inclusive and balanced credit ecosystem,’’ Mr. Jain said.

Credit Supply Increases on the Back of Gold Loans

The CMI for supply rose to 98 in the December 2025 quarter from 91 in the December 2024 quarter, largely driven by a significant increase in both the volume and value of gold loans. This growth was supported by higher-ticket gold loans availed by consumers seeking to benefit from rising gold prices.

Since March 2023, the average gold loan ticket size has increased by 1.8X times driving a sharp rise in origination value. The indexed growth (indexed to March 2023) in the gold loan average ticket size touched 189 points in the quarter ended December 2025, compared to 132 in the quarter-ended December 2024. The average ticket size for the three months ended December 2025 stands at INR 1.9 lakh. Gold loans now represent the largest share by volume (36%) and value (39%) among all retail loan categories, accounting for more than one third of the total retail loan supply. In terms of outstanding balances, gold loans are now second only to housing loans.

From a geographic and demographic perspective, gold loans are expanding beyond their traditional concentration in southern states and seeing higher growth in northern and western states. For instance, as of December 2025, the three states with above average YoY growth rates in gold loan origination volumes were Uttar Pradesh – 96%, Madhya Pradesh – 80% and Rajasthan – 79%. Additionally, more than half, 54%, are being utilised by prime and above consumers indicating a more diverse credit profile. This trend also highlights the growing acceptance of gold loans as a mainstream retail credit product.

Chart 3: CMI for Supply Dec 2023 – Dec 2025

Consumption-led Credit Revives First-Time Borrower Segment

The first-time-borrowers (FTB)³ segment grew 7% by originating consumers YoY in the December 2025 quarter, supported by strong momentum in consumption-led credit. Within this segment, personal loans recorded a 20% YoY increase, compared to a 3% decline in the quarter ended December 2024. Similarly, consumer durable loans grew 22% YoY, reversing an 11% decline in the year-ago period.

Additionally, borrowers below 35 years old increased by 17% YoY in the December 2025 quarter, compared to a 3% decrease in the December 2024 quarter. This group now constitutes 58% of the FTB segment, and is a key contributor towards its overall growth.

CMI for Performance Increases by Six Points

Improved balance level 90+ days past due (DPD) delinquencies across key product segments led to the CMI for performance increasing by six points to 107 in December 2025, from 101 in December 2024. The micro-loan against property (LAP) segment was the only category to exhibit some stress, with balance-level 90+ DPD delinquency increasing by 35 basis points YoY to 3.1% in December 2025. Despite this increase, delinquency levels have remained broadly stable and range‑bound since the previous quarter.

“India’s retail credit landscape continues to demonstrate resilience and structural depth, supported by a healthy balance between consumption-led demand and improving credit performance. Higher origination volumes in home, auto, and consumer durable loans point to a steady shift toward asset-backed borrowing. Concurrently, rising average loan sizes and a growing share of prime and above borrowers indicate sustained lender focus towards credit tested profiles. This reflects evolving borrower preferences as well as lenders’ ability to adapt to changing credit requirements.

“At the same time, rising participation from first-time borrowers, younger consumers, and non-metro geographies points to a broader formalisation of credit and increasing financial inclusion. As the ecosystem matures, maintaining a strong focus on credit discipline and risk management will remain critical to ensure sustainable long-term growth,’’ said Mr. Jain.

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1. The TransUnion CIBIL Credit Market Indicator (CMI) is an evolving model which is regularly reviewed to ensure the most relevant variables and their relative weighting are selected to best chart the credit health of India’s lending market. When selecting certain variables, year-over-year movements are analysed to remove the effects of seasonality. The CMI is not a stationary index; hence the level in itself is not indicative of credit health. The CMI number needs to be looked at in relation to the previous period(s) and not in isolation. A lower CMI number compared to the prior period represents a decline in relative credit health, while a higher number reflects an improvement.

2. NTC (New-to-Credit) Consumers refers to those consumers who do not have a score as of beginning of the month of the loan origination for a given calendar month. An increase in NTC% indicates higher financial inclusion.

3. FTB (First-time-Borrower) refers to consumers who have taken their first ever retail credit product in that particular month or quarter

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Disclaimer: This Information above is based on the TransUnion CIBIL Credit Market Indicator Report of December 2025. TransUnion CIBIL does not guarantee the adequacy or completeness of the information and/or its suitability for any specific purpose. TransUnion CIBIL shall not be responsible for any reliance on the Information. The reader should carry out all the necessary analysis that is prudent in their opinion before making any decisions.

·       83% of credit concentrated across eight products with commercial loans accounting for the largest share at 30%.

·       Portfolio growth reflects increasing retail and small-business activity, with asset-quality metrics showing improvement.

Mumbai, India, 13 February 2026 – Urban Co-operative Banks (UCBs) are strengthening their position in India’s credit ecosystem, supported by steady balance growth, improving asset quality, and rising demand across both retail and small business segments.

Outstanding credit balances of UCBs stood at ₹3.4 lakh crore as of September 2025, representing a 1.9x increase over the last five years, according to Sahakaar Trends, a joint publication by the National Urban Co-operative Finance and Development Corporation (NUCFDC) and TransUnion CIBIL, India’s pioneer information and insights company.

While UCBs continue to hold a modest share of overall industry credit at around 1.8%, the data shows a system that is expanding in scale while adapting to changing borrower profiles, competitive dynamics, and regulatory expectations.

“UCBs are expanding more widely into Bharat, extending formal credit beyond large urban centres to households and small businesses in semi-urban and emerging regions. Their proximity to local communities allows them to serve borrowers where local context and relationships matter, helping bring more of Bharat into the formal credit system. As these banks expand their reach across retail and small-business lending, sustaining credit quality while broadening access will remain central to their role in supporting more balanced and inclusive economic participation,” said Mr. Bhavesh Jain, MD and CEO, TransUnion CIBIL.

“The expanding credit footprint of UCBs reflects strong borrower trust, particularly in semi-urban and emerging regions where access to formal credit remains critical. As these banks scale up, the focus must remain on strengthening institutional capacity, improving operational efficiency, and building resilient governance frameworks. Supporting UCBs through this transition is essential to ensuring that their growth continues to translate into meaningful financial participation and long-term economic stability,” said Shri Prabhat Chaturvedi, CEO, NUCFDC.

UCB Lending Remains Concentrated in Eight Core Products

Commercial loans, housing loans, retail business loans, loan against property, gold loans, personal loans, auto loans and loans against bank deposits dominate UCB balance sheets. As of September 2025, these products together accounted for nearly 83% of UCBs’ total outstanding balances, reflecting a continued emphasis on collateral-backed retail lending and credit to small enterprises.

The average housing loan ticket sizes for UCBs stood at around ₹23 lakh, compared to ₹26 lakh for housing finance companies. For gold loans, the average ticket size is ₹1.3 lakh for UCBs, compared to ₹2.3 lakh for PSU banks. In contrast, average commercial loan ticket sizes for UCBs were approximately ₹50 lakh, higher than ₹37 lakh for Public Sector Banks (PSUs), while personal loan ticket sizes averaged about ₹4.7 lakh, compared to ₹2 lakh for Non-Banking Financial Companies (NBFCs).

Table 1: Growth and Share of Balances of Key Products in UCBs (Five-Year Trend)

*All Commercial fund-based loans (working capital -term loan) with entity with total exposure of 100 Cr is considered.

Gold Loans Present Growth Opportunity for UCBs

Gold loans account for about 5% of UCBs’ overall credit portfolio. Although they cater to a relatively higher share of below-prime borrowers in this segment compared with PSU banks, credit performance indicators have improved, with the balance-level delinquencies, measured as balances 90 days past due or more, declining steadily in recent periods.

Commercial Loans Account for Largest Share of UCBs’ Portfolio

Commercial loans account for the largest share of the total outstanding balances for UCBs, as of September 2025. Indexed to September 2020 as 100, enquiry-level data shows a sharper rise in commercial loan demand for UCBs by September 2025.

While UCBs recorded a higher conversion rate from enquiry to origination compared with PSU banks during the three months ended June 2025, the pace of disbursement remains slower, with 45% of originations disbursed within 15 days, compared with 61% for PSU banks. UCBs also cater to a higher share of entities with credit exposure exceeding ₹1 crore and also have a higher share of low-risk borrowers at 49% compared to 45% medium-risk borrowers and 6% high-risk borrowers¹.

Chart 1: Commercial Loan Demand Index: UCBs vs PSU Banks

Housing Loan Demand Higher in Metro and Semi-Urban Regions

Housing loans constitute the second largest share of total outstanding balances for UCBs. Demand for housing loans has remained stable with UCBs recording 2x growth in the last five years attracting younger consumers, women, and New-to-Credit borrowers. Additionally, the growth has also been greater in urban and semi-urban regions.

The credit performance for housing loans has improved, with 90+ DPD balance-level delinquencies falling to 2.8% as of September 2025, from 3.2% in September 2024.

Customer Profile of Personal Loan Borrowers Has Improved for UCBs

Personal loan demand at UCBs has strengthened in recent periods. UCBs recorded higher conversion rates for personal loan enquiries at 39%, compared to 22% for NBFCs during the three months ended August 2025, although only 42% of these loans were disbursed within five days, compared with 68% for NBFCs. Additionally, the balance-level delinquencies for personal loans have steadily improved for UCBs and have been consistent for recent periods. The personal loan delinquencies (90+ DPD) declined from about 4.5% in September 2020 to approximately 2.1% by September 2025. 

Opportunity Exists for UCBs to Expand Credit Reach

The data also points to a gap in portfolio deepening. As of March 2025, UCBs had approximately 30 lakh live retail borrowers, of which around 1.7 lakh, or about 6%, also had a commercial credit footprint. During April to September 2025, nearly 3,000 such borrowers sourced new commercial loans from PSU banks, with total sanctioned amounts of about ₹724 crore, including approximately ₹442 crore extended to low- and medium-risk borrowers.

Chart 2: Retail Borrowers with Commercial Loans Taken from PSU Banks

Overall, the sustained growth of UCBs reflects a sector that is strengthening its balance sheets while accelerating efforts to modernise its operations and risk frameworks. Backed by improving asset quality, disciplined credit expansion, and rising adoption of technology‑enabled processes, UCBs are increasingly well positioned to serve their core constituencies with greater efficiency and resilience.

“As UCBs continue to balance their community-rooted strengths with data‑led decisioning and regulatory alignment, they are set to play an increasingly meaningful role in supporting inclusive economic growth and deepening formal credit penetration across India’s urban and semi‑urban landscape,” Mr. Jain said.

Ends

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1. Low Risk is CMR 1-3, Medium Risk is CMR 4-7, High Risk is CMR 8-10. CMR stands for CIBIL Commercial Rank