Latest News | Borrowers in Non-metros Leading the Charge on Credit Monitoring: Report

Mumbai, Nov 29 (PTI) A credit information company on Tuesday said borrowers in non-metros are showing higher interest in monitoring their credit histories as compared to their counterparts in the metros.

There was a 96 per cent increase in self-monitoring consumers in non-metro locations between October 2021 and September 2022, as compared to a 58 per cent increase in metro locations, Transunion Cibil said.

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This led to an overall increase of 83 per cent in the number of consumers self-monitoring their credit profile in the same period, it said.

Since its beginning in 2009, 61.1 million consumers have self-monitored their credit profile, the statement said, adding that 23.8 million consumers registered for self-monitoring for the first time between October 2021 and September 2022.

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In what is illustrative of the non-metros' interest, it said 71 per cent or 16.8 million consumers of the 23.8 million consumers came from non-metro locations.

"We can see that Indians are beginning to take a more active role in monitoring their own credit information and understanding their credit health," the company's managing director and chief executive Rajesh Kumar said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)