MUMBAI : India’s retail credit market is expected to see changes owing to the covid-19 pandemic, with demand for secured loans dropping and lenders tightening borrower assessment norms, TransUnion Cibil said Thursday in a report.The credit bureau said that its report draws on lessons learnt from the previous financial crisis to help map potential changes across the major retail credit categories.
It analyzed the relationship between macroeconomic variables and credit data such as originations and inquiries for key retail credit products.By observing the changes following the 2008-2009 global financial crisis, it is possible to predict certain behaviours, it said.