New Delhi, June 10 -- While household debt in India has been increasing over the past three years, a State Bank of India (SBI) report suggested that it's not necessarily a cause for alarm, especially when considering the context of the economy and the type of debt.

It said India's household debt is manageable and not worrisome at all, as two-thirds of the portfolio is of prime and above credit quality and the rise is attributed to a growing number of borrowers rather than an increase in average indebtedness.

Additionally, asset creation, such as home and vehicle loans, makes up 25 per cent, while productive purposes like agriculture, business, and education loans constitute 30 per cent. The Reserve Bank of India (RBI) views the rise in ...