They also found that Indian households have a debt service ratio (DSR) – the share of income used to service loans – of approximately 12%, similar to Nordic countries. This ratio is higher than that of China, France, the UK, and the US, all of which have higher household debt levels. The difference is due to higher interest rates and shorter loan tenures in India, resulting in a relatively higher DSR despite lower debt-to-income ratios.
Source link: https://www.bbc.co.uk/news/world-asia-india-68874403