GST Tweaks, Festive Push Lift Q3 Retail Credit: TransUnion CIBIL

• Retail credit demand strengthened in Q3 2025, driven by GST rationalization and festive season.
• TransUnion CIBIL's Credit Market Indicator (CMI) rose to 99 in Q3, signaling improved market health.
• Demand growth was concentrated in consumption-led segments like consumer durable, two-wheeler, and auto loans.
• Credit supply expanded, with semi-urban and rural markets accounting for 61% of total supply.
• New-to-credit consumers and younger borrowers (under 35) showed growth, especially in non-metro areas.

Why It Matters: GST and festivals boost retail credit, but responsible lending is crucial.