New Delhi, Sept. 10 -- Banks and FinTech companies should make greater use of UPI transaction data to assess creditworthiness and bring more micro enterprises and MSMEs into the formal lending system, NITI Aayog Vice-Chairman Ashok Lahiri said.

India's credit-to-GDP ratio stands at only 53-55 per cent, compared with around 150-170 per cent in developed economies, indicating significant headroom to deepen formal credit access, particularly for smaller businesses, Lahiri said while speaking at the Global Fintech Fest 2026.

He said digital transaction data can make credit appraisal and risk assessment more efficient and enable lenders to extend credit to more creditworthy borrowers, reported Money Control.

Lahiri noted that non-performing...