Mumbai, Jan. 31 -- Rising consumer debt, increase in unsecured loans and a growing number of young investors make it necessary for regulations to balance growth and stability, according to the Economic Survey for 2024-25 tabled in Parliament on Friday.

"Notably, there is an increase in the share of consumer credit in overall credit extended by banks and a rise in non-bank financing options. Additionally, equity-based financing has gained popularity, with the number of initial public offerings (IPOs) increasing six-fold between FY13 and FY24," it said.

Data from the Reserve Bank of India (RBI) showed that retail loans-a combination of secured and unsecured credit-accounted for 33% of all non-food credit at end-November. Personal loans fo...