A survey by the Credit Information Bureau India Ltd (CIBIL), India’s largest credit information company, has revealed that Kolkata has the oldest population accessing new credit with 25 per cent of the population being over 45 years against the national average of 19.

Unsurprisingly, Bangalore has the youngest population applying for new credit with 53 per cent of the applicants being less than 35 years as of November 2012. Only 49 per cent of the borrowers in Kolkata were less than 35 years.

Indicating that the increasing need for banks to provide for bad loans was mostly on account of corporates, the CIBIL data reveals that delinquencies for products like personal loans, home and auto loans are on a decreasing trend.

“71 per cent of the borrowers have a high credit score of 700 ,” said CIBIL Managing Director Arun Thukral. Credit score on a scale of 300 to 800 is given by CIBIL after going through a person’s recent credit history.

“The increase in the number of new credit applications and loans booked indicates an increased demand for credit and a bounce-back by lending institutions in sanctioning new credit after the 2008 downturn, he said, adding that while the increase in credit uptake has largely been driven by secured products like auto loans, home loans and two-wheeler loans, the quarter-on-quarter trends reveal that for the first time in the last quarter of Calendar 2012 credit cards and personal loans showed an increase. “This indicated that the demand for unsecured loans could again be on the rise.”

CIBIL was set up under an Act and is regulated by the Reserve Bank of India. It’s equity is held by TransUnion India and most of the Indian banks and the Indian branches of foreign banks.