{
 "meta": {
  "dossier": "bis",
  "source": "Bank for International Settlements (BIS)",
  "vintage": "2026-10-09",
  "mock": false,
  "geo": "IND",
  "releaseDate": null,
  "revisionPolicy": "BIS revises credit, debt service and property series as national sources revise; each update re-reads the last ten years. Break-adjusted series are BIS's own adjustment.",
  "latestPeriod": "2026-01",
  "frequency": "quarterly",
  "base": "% of GDP",
  "unit": "pct_gdp",
  "coverage": "India's credit-to-GDP ratio, its trend and the gap",
  "note": "BIS credit-to-GDP gaps (WS_CREDIT_GAP): the trend is a one-sided Hodrick-Prescott filter with a large smoothing parameter (400,000), so each quarter's trend uses only data up to that quarter. Gap = ratio minus trend (checked)."
 },
 "dates": [
  "1951-04-01",
  "1951-07-01",
  "1951-10-01",
  "1952-01-01",
  "1952-04-01",
  "1952-07-01",
  "1952-10-01",
  "1953-01-01",
  "1953-04-01",
  "1953-07-01",
  "1953-10-01",
  "1954-01-01",
  "1954-04-01",
  "1954-07-01",
  "1954-10-01",
  "1955-01-01",
  "1955-04-01",
  "1955-07-01",
  "1955-10-01",
  "1956-01-01",
  "1956-04-01",
  "1956-07-01",
  "1956-10-01",
  "1957-01-01",
  "1957-04-01",
  "1957-07-01",
  "1957-10-01",
  "1958-01-01",
  "1958-04-01",
  "1958-07-01",
  "1958-10-01",
  "1959-01-01",
  "1959-04-01",
  "1959-07-01",
  "1959-10-01",
  "1960-01-01",
  "1960-04-01",
  "1960-07-01",
  "1960-10-01",
  "1961-01-01",
  "1961-04-01",
  "1961-07-01",
  "1961-10-01",
  "1962-01-01",
  "1962-04-01",
  "1962-07-01",
  "1962-10-01",
  "1963-01-01",
  "1963-04-01",
  "1963-07-01",
  "1963-10-01",
  "1964-01-01",
  "1964-04-01",
  "1964-07-01",
  "1964-10-01",
  "1965-01-01",
  "1965-04-01",
  "1965-07-01",
  "1965-10-01",
  "1966-01-01",
  "1966-04-01",
  "1966-07-01",
  "1966-10-01",
  "1967-01-01",
  "1967-04-01",
  "1967-07-01",
  "1967-10-01",
  "1968-01-01",
  "1968-04-01",
  "1968-07-01",
  "1968-10-01",
  "1969-01-01",
  "1969-04-01",
  "1969-07-01",
  "1969-10-01",
  "1970-01-01",
  "1970-04-01",
  "1970-07-01",
  "1970-10-01",
  "1971-01-01",
  "1971-04-01",
  "1971-07-01",
  "1971-10-01",
  "1972-01-01",
  "1972-04-01",
  "1972-07-01",
  "1972-10-01",
  "1973-01-01",
  "1973-04-01",
  "1973-07-01",
  "1973-10-01",
  "1974-01-01",
  "1974-04-01",
  "1974-07-01",
  "1974-10-01",
  "1975-01-01",
  "1975-04-01",
  "1975-07-01",
  "1975-10-01",
  "1976-01-01",
  "1976-04-01",
  "1976-07-01",
  "1976-10-01",
  "1977-01-01",
  "1977-04-01",
  "1977-07-01",
  "1977-10-01",
  "1978-01-01",
  "1978-04-01",
  "1978-07-01",
  "1978-10-01",
  "1979-01-01",
  "1979-04-01",
  "1979-07-01",
  "1979-10-01",
  "1980-01-01",
  "1980-04-01",
  "1980-07-01",
  "1980-10-01",
  "1981-01-01",
  "1981-04-01",
  "1981-07-01",
  "1981-10-01",
  "1982-01-01",
  "1982-04-01",
  "1982-07-01",
  "1982-10-01",
  "1983-01-01",
  "1983-04-01",
  "1983-07-01",
  "1983-10-01",
  "1984-01-01",
  "1984-04-01",
  "1984-07-01",
  "1984-10-01",
  "1985-01-01",
  "1985-04-01",
  "1985-07-01",
  "1985-10-01",
  "1986-01-01",
  "1986-04-01",
  "1986-07-01",
  "1986-10-01",
  "1987-01-01",
  "1987-04-01",
  "1987-07-01",
  "1987-10-01",
  "1988-01-01",
  "1988-04-01",
  "1988-07-01",
  "1988-10-01",
  "1989-01-01",
  "1989-04-01",
  "1989-07-01",
  "1989-10-01",
  "1990-01-01",
  "1990-04-01",
  "1990-07-01",
  "1990-10-01",
  "1991-01-01",
  "1991-04-01",
  "1991-07-01",
  "1991-10-01",
  "1992-01-01",
  "1992-04-01",
  "1992-07-01",
  "1992-10-01",
  "1993-01-01",
  "1993-04-01",
  "1993-07-01",
  "1993-10-01",
  "1994-01-01",
  "1994-04-01",
  "1994-07-01",
  "1994-10-01",
  "1995-01-01",
  "1995-04-01",
  "1995-07-01",
  "1995-10-01",
  "1996-01-01",
  "1996-04-01",
  "1996-07-01",
  "1996-10-01",
  "1997-01-01",
  "1997-04-01",
  "1997-07-01",
  "1997-10-01",
  "1998-01-01",
  "1998-04-01",
  "1998-07-01",
  "1998-10-01",
  "1999-01-01",
  "1999-04-01",
  "1999-07-01",
  "1999-10-01",
  "2000-01-01",
  "2000-04-01",
  "2000-07-01",
  "2000-10-01",
  "2001-01-01",
  "2001-04-01",
  "2001-07-01",
  "2001-10-01",
  "2002-01-01",
  "2002-04-01",
  "2002-07-01",
  "2002-10-01",
  "2003-01-01",
  "2003-04-01",
  "2003-07-01",
  "2003-10-01",
  "2004-01-01",
  "2004-04-01",
  "2004-07-01",
  "2004-10-01",
  "2005-01-01",
  "2005-04-01",
  "2005-07-01",
  "2005-10-01",
  "2006-01-01",
  "2006-04-01",
  "2006-07-01",
  "2006-10-01",
  "2007-01-01",
  "2007-04-01",
  "2007-07-01",
  "2007-10-01",
  "2008-01-01",
  "2008-04-01",
  "2008-07-01",
  "2008-10-01",
  "2009-01-01",
  "2009-04-01",
  "2009-07-01",
  "2009-10-01",
  "2010-01-01",
  "2010-04-01",
  "2010-07-01",
  "2010-10-01",
  "2011-01-01",
  "2011-04-01",
  "2011-07-01",
  "2011-10-01",
  "2012-01-01",
  "2012-04-01",
  "2012-07-01",
  "2012-10-01",
  "2013-01-01",
  "2013-04-01",
  "2013-07-01",
  "2013-10-01",
  "2014-01-01",
  "2014-04-01",
  "2014-07-01",
  "2014-10-01",
  "2015-01-01",
  "2015-04-01",
  "2015-07-01",
  "2015-10-01",
  "2016-01-01",
  "2016-04-01",
  "2016-07-01",
  "2016-10-01",
  "2017-01-01",
  "2017-04-01",
  "2017-07-01",
  "2017-10-01",
  "2018-01-01",
  "2018-04-01",
  "2018-07-01",
  "2018-10-01",
  "2019-01-01",
  "2019-04-01",
  "2019-07-01",
  "2019-10-01",
  "2020-01-01",
  "2020-04-01",
  "2020-07-01",
  "2020-10-01",
  "2021-01-01",
  "2021-04-01",
  "2021-07-01",
  "2021-10-01",
  "2022-01-01",
  "2022-04-01",
  "2022-07-01",
  "2022-10-01",
  "2023-01-01",
  "2023-04-01",
  "2023-07-01",
  "2023-10-01",
  "2024-01-01",
  "2024-04-01",
  "2024-07-01",
  "2024-10-01",
  "2025-01-01",
  "2025-04-01",
  "2025-07-01",
  "2025-10-01",
  "2026-01-01"
 ],
 "series": {
  "ratio": {
   "name": "ratio",
   "label": "Credit to the private non-financial sector, % of GDP",
   "bis_key": "Q.IN.P.A.A",
   "data": [
    25.2,
    23.4,
    23,
    23.1,
    23.3,
    23,
    22.8,
    23.1,
    22.7,
    21.3,
    21.4,
    22.3,
    22.8,
    23.1,
    24.4,
    25.7,
    26.6,
    26.4,
    26.7,
    27.1,
    26.1,
    24.2,
    24,
    25,
    25.8,
    25.3,
    25.7,
    26.6,
    26,
    25.1,
    25.3,
    26.3,
    26.8,
    26.5,
    26.9,
    27.7,
    27.6,
    26.3,
    25.6,
    26,
    25.6,
    24.8,
    25.1,
    26.3,
    26.6,
    25.8,
    25.8,
    25.9,
    25.8,
    24.8,
    24.8,
    24.6,
    24.2,
    23.3,
    23.3,
    23.6,
    24.2,
    23.9,
    24.5,
    24.9,
    25,
    24,
    24.1,
    23.9,
    23.2,
    22.2,
    22.5,
    22.8,
    23.2,
    22.9,
    23.2,
    24.1,
    24.6,
    23.6,
    23.9,
    24.6,
    25.6,
    25.5,
    26.5,
    27.6,
    27.1,
    27,
    28.2,
    28.7,
    29.2,
    28.1,
    29.1,
    30.4,
    29.8,
    28.3,
    29.9,
    29.8,
    29.8,
    28.4,
    28.9,
    30.5,
    30.7,
    31,
    32.9,
    35.3,
    35.7,
    36.5,
    39.4,
    39.2,
    38.2,
    37.9,
    39.4,
    39.1,
    40,
    40,
    43.7,
    43.5,
    44.7,
    45.4,
    47.1,
    47.1,
    45.6,
    44.1,
    46.1,
    46.9,
    46.3,
    45.6,
    47.7,
    47.9,
    47.3,
    47.2,
    51.1,
    50.6,
    49.4,
    48.8,
    51.1,
    51.6,
    51.8,
    51,
    53.9,
    54.1,
    52.7,
    52.7,
    53.9,
    56.4,
    54.8,
    53.9,
    55,
    57.8,
    55.2,
    54.7,
    55.2,
    58,
    55.3,
    54.7,
    57.8,
    57.9,
    57.8,
    56.8,
    58.4,
    59.3,
    58.2,
    56.6,
    57.3,
    57.3,
    55.5,
    53.7,
    53.6,
    54.5,
    55.2,
    55.2,
    56.3,
    57.5,
    55.9,
    53.3,
    53.4,
    53.2,
    51.1,
    52.2,
    52.4,
    55.5,
    53.6,
    54.4,
    54.4,
    56.7,
    54.5,
    53.5,
    53.1,
    55,
    53,
    52.4,
    53.9,
    57.2,
    55.6,
    55.3,
    54.6,
    57.8,
    55.2,
    55.6,
    58.4,
    59.4,
    60.6,
    60.4,
    62.5,
    63.4,
    62.9,
    63,
    64.1,
    66,
    69.5,
    69.3,
    70.6,
    72.3,
    71.2,
    69.7,
    70.8,
    73.6,
    73.3,
    73.8,
    78.2,
    80.6,
    81.5,
    86.3,
    87.5,
    95,
    93.6,
    97,
    97.2,
    103.1,
    98.5,
    100.9,
    102.1,
    108.8,
    106.3,
    108.5,
    109.2,
    113.2,
    109.8,
    111.4,
    109.4,
    113.1,
    110.9,
    110.2,
    114.8,
    114.4,
    112.1,
    111.2,
    114.2,
    114.2,
    111.3,
    112.9,
    114.8,
    111.5,
    109.3,
    106.7,
    104.7,
    104.9,
    103.8,
    105,
    107.1,
    105.5,
    102.9,
    103.7,
    103.7,
    99.3,
    98.2,
    92.3,
    93.9,
    93.2,
    98.7,
    101,
    107.5,
    102.8,
    101.3,
    99.3,
    99.2,
    95.7,
    93.5,
    92.7,
    93.7,
    91.5,
    97.3,
    100.5,
    103.1,
    100.1,
    95.6,
    93.6,
    96.5,
    95.4,
    93.2,
    93.8,
    92.6,
    93.2,
    91.6,
    93.4,
    93.8,
    94.4,
    94.5,
    93.9,
    95.3,
    96,
    97.3,
    97.4,
    102.2,
    105.1
   ],
   "estimated": [
    "2024-01-01",
    "2024-04-01",
    "2024-07-01",
    "2024-10-01",
    "2025-01-01",
    "2025-04-01",
    "2025-07-01",
    "2025-10-01",
    "2026-01-01"
   ],
   "estimatedNote": "Estimated by BIS: after 2023-10 (the last quarter of the RBI's financial accounts) BIS extends private credit with bank credit and keeps the household/company split fixed. BIS documentation, India entry; not flagged in the observation status."
  },
  "trend": {
   "name": "trend",
   "label": "Long-run trend of the ratio (one-sided HP filter), % of GDP",
   "bis_key": "Q.IN.P.A.B",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    27,
    26.9,
    26.8,
    26.9,
    26.9,
    26.9,
    26.9,
    26.9,
    26.9,
    26.8,
    26.7,
    26.6,
    26.5,
    26.3,
    26.1,
    25.9,
    25.8,
    25.7,
    25.7,
    25.6,
    25.6,
    25.5,
    25.4,
    25.3,
    25.2,
    25,
    24.9,
    24.7,
    24.6,
    24.5,
    24.4,
    24.4,
    24.4,
    24.3,
    24.3,
    24.3,
    24.3,
    24.4,
    24.5,
    24.7,
    24.8,
    24.9,
    25.1,
    25.3,
    25.6,
    25.7,
    25.9,
    26.2,
    26.5,
    26.6,
    26.8,
    27,
    27.3,
    27.4,
    27.5,
    27.7,
    28,
    28.2,
    28.5,
    29,
    29.4,
    29.9,
    30.6,
    31.2,
    31.7,
    32.2,
    32.7,
    33.2,
    33.8,
    34.3,
    35,
    35.7,
    36.4,
    37.1,
    37.9,
    38.7,
    39.3,
    39.8,
    40.5,
    41.1,
    41.7,
    42.2,
    42.8,
    43.4,
    44,
    44.5,
    45.2,
    45.8,
    46.4,
    46.9,
    47.5,
    48.1,
    48.6,
    49.1,
    49.8,
    50.4,
    50.9,
    51.4,
    51.9,
    52.6,
    53.1,
    53.6,
    54.1,
    54.7,
    55.1,
    55.5,
    55.9,
    56.4,
    56.8,
    57.1,
    57.5,
    58,
    58.4,
    58.7,
    59.1,
    59.5,
    59.8,
    60.1,
    60.3,
    60.5,
    60.6,
    60.6,
    60.6,
    60.6,
    60.7,
    60.7,
    60.8,
    61,
    61,
    60.9,
    60.8,
    60.7,
    60.4,
    60.2,
    60,
    60,
    59.9,
    59.8,
    59.8,
    59.8,
    59.7,
    59.6,
    59.4,
    59.3,
    59.1,
    58.9,
    58.8,
    58.9,
    58.8,
    58.8,
    58.7,
    58.7,
    58.6,
    58.6,
    58.7,
    58.8,
    59,
    59.2,
    59.5,
    59.9,
    60.1,
    60.4,
    60.8,
    61.2,
    61.8,
    62.4,
    63,
    63.7,
    64.3,
    64.8,
    65.3,
    66,
    66.6,
    67.2,
    68.1,
    69,
    70,
    71.2,
    72.4,
    74,
    75.5,
    77,
    78.6,
    80.4,
    81.9,
    83.5,
    85,
    86.9,
    88.6,
    90.3,
    92,
    93.9,
    95.5,
    97.1,
    98.5,
    100.1,
    101.5,
    102.8,
    104.3,
    105.7,
    106.9,
    108,
    109.2,
    110.4,
    111.3,
    112.3,
    113.3,
    114.1,
    114.7,
    115.2,
    115.5,
    115.8,
    115.9,
    116.1,
    116.5,
    116.6,
    116.6,
    116.7,
    116.7,
    116.5,
    116.1,
    115.5,
    114.9,
    114.3,
    114,
    113.8,
    114,
    113.9,
    113.7,
    113.3,
    113,
    112.5,
    111.8,
    111.2,
    110.5,
    109.8,
    109.4,
    109.2,
    109.1,
    108.9,
    108.4,
    107.8,
    107.3,
    106.8,
    106.2,
    105.7,
    105.1,
    104.5,
    103.9,
    103.4,
    102.9,
    102.5,
    102.1,
    101.6,
    101.3,
    101,
    100.7,
    100.5,
    100.6,
    100.8
   ],
   "estimated": [
    "2024-01-01",
    "2024-04-01",
    "2024-07-01",
    "2024-10-01",
    "2025-01-01",
    "2025-04-01",
    "2025-07-01",
    "2025-10-01",
    "2026-01-01"
   ],
   "estimatedNote": "Estimated by BIS: after 2023-10 (the last quarter of the RBI's financial accounts) BIS extends private credit with bank credit and keeps the household/company split fixed. BIS documentation, India entry; not flagged in the observation status."
  },
  "gap": {
   "name": "gap",
   "label": "Credit-to-GDP gap: ratio minus trend, percentage points",
   "bis_key": "Q.IN.P.A.C",
   "unit": "pp",
   "data": [
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    null,
    -1.5,
    -2.1,
    -1.7,
    -0.6,
    -0.3,
    -1.1,
    -1.1,
    -1,
    -1.1,
    -1.9,
    -1.9,
    -2,
    -2.2,
    -2.9,
    -2.8,
    -2.3,
    -1.6,
    -1.8,
    -1.2,
    -0.8,
    -0.6,
    -1.5,
    -1.4,
    -1.4,
    -2,
    -2.8,
    -2.4,
    -1.9,
    -1.4,
    -1.6,
    -1.2,
    -0.3,
    0.3,
    -0.7,
    -0.3,
    0.3,
    1.2,
    1.1,
    2,
    3,
    2.3,
    2.1,
    3.1,
    3.3,
    3.7,
    2.4,
    3.2,
    4.2,
    3.3,
    1.7,
    3.1,
    2.8,
    2.5,
    1.1,
    1.4,
    2.8,
    2.7,
    2.8,
    4.4,
    6.3,
    6.3,
    6.6,
    8.8,
    8,
    6.6,
    5.8,
    6.6,
    5.9,
    6.2,
    5.7,
    8.6,
    7.8,
    8.3,
    8.3,
    9.2,
    8.5,
    6.3,
    4.3,
    5.6,
    5.8,
    4.6,
    3.4,
    4.8,
    4.4,
    3.4,
    2.7,
    5.9,
    4.7,
    3,
    1.9,
    3.6,
    3.5,
    3.2,
    1.9,
    4.1,
    3.7,
    1.8,
    1.2,
    1.9,
    3.8,
    1.6,
    0.4,
    1,
    3.1,
    0.1,
    -0.8,
    -0.7,
    1.5,
    -1.4,
    -2.4,
    0.2,
    0,
    -0.6,
    -1.9,
    -0.7,
    -0.2,
    -1.6,
    -3.5,
    -3,
    -3.2,
    -5.2,
    -7,
    -7,
    -6.1,
    -5.5,
    -5.5,
    -4.6,
    -3.5,
    -5.1,
    -7.6,
    -7.4,
    -7.5,
    -9.3,
    -8.1,
    -7.7,
    -4.5,
    -6.3,
    -5.4,
    -5.4,
    -3.1,
    -5.2,
    -6,
    -6.3,
    -4.3,
    -6.1,
    -6.5,
    -4.9,
    -1.7,
    -3.2,
    -3.5,
    -4.1,
    -1,
    -3.5,
    -3,
    -0.3,
    0.5,
    1.5,
    1.2,
    2.9,
    3.6,
    2.8,
    2.6,
    3.4,
    4.8,
    7.7,
    6.9,
    7.6,
    8.6,
    6.9,
    4.9,
    5.5,
    7.6,
    6.7,
    6.6,
    10.1,
    11.6,
    11.5,
    15.1,
    15.1,
    21,
    18.1,
    20,
    18.6,
    22.7,
    16.6,
    17.5,
    17,
    21.9,
    17.7,
    18.2,
    17.1,
    19.3,
    14.3,
    14.3,
    10.9,
    13,
    9.4,
    7.4,
    10.5,
    8.7,
    5.2,
    3.2,
    5,
    3.8,
    0,
    0.6,
    1.4,
    -2.6,
    -5.4,
    -8.5,
    -10.7,
    -10.9,
    -12.1,
    -11.1,
    -9.3,
    -11.1,
    -13.8,
    -13,
    -13,
    -17.1,
    -17.9,
    -23.2,
    -21,
    -21.1,
    -15.3,
    -12.8,
    -6.5,
    -11,
    -12.4,
    -14,
    -13.8,
    -16.7,
    -18.3,
    -18.4,
    -16.8,
    -18.3,
    -12.1,
    -8.7,
    -6,
    -8.7,
    -12.7,
    -14.1,
    -10.8,
    -11.5,
    -13.1,
    -11.9,
    -12.5,
    -11.3,
    -12.3,
    -10,
    -9.1,
    -8.1,
    -7.5,
    -7.7,
    -5.9,
    -5,
    -3.4,
    -3.2,
    1.6,
    4.3
   ],
   "estimated": [
    "2024-01-01",
    "2024-04-01",
    "2024-07-01",
    "2024-10-01",
    "2025-01-01",
    "2025-04-01",
    "2025-07-01",
    "2025-10-01",
    "2026-01-01"
   ],
   "estimatedNote": "Estimated by BIS: after 2023-10 (the last quarter of the RBI's financial accounts) BIS extends private credit with bank credit and keeps the household/company split fixed. BIS documentation, India entry; not flagged in the observation status."
  }
 }
}