News on Medial

Chart of the Day: Personal loans perk up for festivals

Money ControlMoney Control Ā· 9m
Chart of the Day: Personal loans perk up for festivals

The upcoming festival season in India is expected to boost demand and drive individuals to borrow money for their purchases. Lenders are offering special festival loan packages to cater to this demand. The banking sector has experienced a smart recovery in credit growth, driven mainly by retail loans, although corporate loans have also seen a resurgence. Retail loan growth has been consistently strong throughout FY23, outpacing overall non-food credit growth. While the share of retail loans in incremental loans disbursed has declined recently, this is due to the rebound in corporate loans rather than a slowdown in retail lending. Bankers anticipate a further increase in personal loans in the coming months.

Comments

Download the medial app to read full posts, comements and news.