India Private Credit (% of GDP)

## What this measures

Total credit to India's households and non-financial companies, from banks and all other lenders, as a percent of GDP.

## Why it matters

Rapid rises in private debt relative to income have preceded many banking crises.

## How to read it

It was 105.1% of GDP in the first quarter of 2026, up from 96.0% a year earlier; its record is 114.8% (late 2010).

## What it does not say

It does not show who holds the debt or what it costs; see the debt service ratio (bis.debt_service_ratio.ind).

## Source

Bank for International Settlements, Credit to the non-financial sector, private, all sectors, % of GDP, series `WS_TC/Q.IN.P.A.M.770.A` (stats.bis.org). Palanor reads the full series every day. Source: BIS. Used under the BIS terms for statistics: reuse is unrestricted with the BIS cited as the source, and the statistics carry no additional charge in Palanor.