May 20, 2024 03:11 (IST)
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Mumbai, Mar 11 (IBNS): Credit Information Bureau (India) Limited (CIBIL), the country’s leading credit information company, has indicated a sustained growth in the retail credit sector.
The data was released during the Eighth Annual CIBIL TransUnion Credit Information Conference in Mumbai on Friday.
“The growth of Retail Loans at an average CAGR of 25% is largely contributed by the growth of Property Loans at 58%, Personal Loans at 31% and Auto Loans at 30%. Forward looking policies along with availability of credit information solutions has largely contributed to this propulsion in growth," said M V Nair, Chairman, CIBIL addressing the conference.
Speaking of CIBIL’s growth plans, Satish Pillai, Managing Director and CEO, CIBIL said, “We shall continue to create information solutions that help drive growth for businesses while fueling faster and cheaper access to credit and other services for consumers. We have accelerated our investments in content, insights, products and solutions across all sectors. We are working on developmental initiatives to partner in the national momentum of helping drive financial literacy, inclusion and protection.”
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