New Delhi, July 1 -- The per capita debt of individual borrowers in India has witnessed a sharp increase over the past two years, rising from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025, according to the financial stability report released by the Reserve Bank of India (RBI).

The report highlighted that this rise in debt levels has been primarily driven by higher-rated borrowers.

RBI stated, "At an aggregate level, the per capita debt of individual borrowers has grown from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025".

At an aggregate level, the growth in household debt has been supported by steady increases in housing loans, which formed 29.0 per cent of the total household debt as of March 2025.

While the growth ...