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Mumbai Household Debt Soars to 41.3% of GDP

1/2/2026

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Summary

Story summary

The Reserve Bank of India (RBI) reports Mumbai's household debt at 41.3% of GDP by March 2025, above its 38.3% five-year average.
Non-housing retail loans account for 55.3% of household borrowing, and personal loans comprise 22.3% of consumption loans.
Borrower risk improved, with 56.2% of loans to prime customers and 23% of borrowers subprime.
Household financial savings rose to 7.6% of GDP, despite slower wealth growth.

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Story summary

The Reserve Bank of India (RBI) reports Mumbai's household debt at 41.3% of GDP by March 2025, above its 38.3% five-year average.
Non-housing retail loans account for 55.3% of household borrowing, and personal loans comprise 22.3% of consumption loans.
Borrower risk improved, with 56.2% of loans to prime customers and 23% of borrowers subprime.
Household financial savings rose to 7.6% of GDP, despite slower wealth growth.