India's household debts surge on back of housing loans, rising trend of unsecured lending

A recent report by Care Edge Ratings reveals that India's household debt has reached 38 per cent of GDP, driven mainly by housing loans, which make up over 50 per cent of retail loans. While unsecured loans are also rising, the overall gross household savings remain stable at around 24 per cent of GDP. The trend shows a shift from bank deposits to real estate investments.