Over the last five years, India has witnessed a significant increase in access to formal credit, with strong growth in both the retail and MSME sectors.
In the retail segment, the number of people with a credit bureau record increased from 45.5 crore in 2021 to 78.9 crore in 2026, while active borrowers grew from 34.2 crore to 58.2 crore. The MSME sector also saw remarkable progress, with the bureau footprint rising from 2 crore to 3.9 crore, and active borrowers more than doubling from 0.9 crore to 1.9 crore. Meanwhile, the total number of MSMEs increased from 6.3 crore to 7.9 crore, reflecting the continued expansion of India’s formal credit ecosystem.
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