The release of the Financial Stability Report (FSR) 2024 by the Reserve Bank of India (RBI) has called attention to the question of household finances and consumption loans. The stock of household debt has shown a gradual increase, rising from 36.6% of GDP in June 2021 to 41% in March 2024. According to the FSR, it has risen to 42.9% in June 2024. Even though household debt in India is lesser than most emerging market economies, the rise in household debt-to-GDP ratio is of concern.