Household credit zooms sharply to 42% of GDP in FY24

This growing credit footprint highlights increased financial access and confidence among households in the post-pandemic phase

- INDO-ASIAN NEWS SERVICE

Household credit extended heavily to 42.1 per cent of the gross domestic product (GDP) in FY24, which was steady in the range of 32 to 35 per cent during FY13 to FY20, a report revealed Friday, showing growing optimism in the resilient economy.

This comes after a sharp increase in household financial liabilities post-pandemic period, according to the National Stock Exchange (NSE) market pulse report.