As India celebrated its 77th Republic Day last week, credit remains a pivotal pillar of its broader economic journey towards becoming a global power and leaping into the top three economies. India has been at the forefront of financial evolution and innovation over the past few years.
India, today, operates the world’s most widely adopted real-time payment system through UPI, offering 24×7, near-zero-cost transactions, in contrast to developed economies that remain largely dependent on card-led, fee-intensive payment networks. In Dec 25, close to 695 million transactions were processed daily through UPI, with a value of over ₹26 Lakh crores through the month. India is also among the few countries globally to offer such a wide diversity of lending products with meaningful penetration across a vast population. What makes this achievement commendable is the country’s scale, diversity and complexity. With 28 states and eight union territories, India encompasses 22 scheduled languages and includes highly diverse geographies ranging from hilly terrains and deserts to dense metropolitan cities. Despite these hurdles, access to credit continues to expand steadily across regions and demographics.
