Borrowers in non-metros leading the charge on credit monitoring: Report

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.

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.

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.