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No worries over credit demand growth: Guv

Economic Times

Economic Times · 22d ago

No worries over credit demand growth: Guv

Governor Sanjay Malhotra addressed concerns over circumspect credit demand in mortgages and other retail sectors, noting it doesn't indicate a slowdown or ineffectual rate cuts. Highlighting the long-term nature of housing loans, he mentioned the overall housing credit growth is 14%, which is above the average credit growth for the year. Analysts attribute the slowdown to cautious lending, increased selectivity towards high-risk borrowers, and a shift towards affordable housing with smaller ticket sizes.

Related News

Banks' credit growth edges past deposits ahead of Ganesh Chaturthi

Economic Times

Economic Times · 7d ago

Banks' credit growth edges past deposits ahead of Ganesh Chaturthi

Banks in India experienced credit growth surpassing deposit growth ahead of the festival season starting with Ganesh Chaturthi. By August 8, credit growth was 10.22%, slightly higher than the 10.05% deposit growth. The slowdown from last year's 13.7% credit growth can be attributed to a high base effect and reduced demand across sectors. Bankers anticipate better credit growth in the second quarter due to festive demand, following a sluggish start to the fiscal year.

RBI rate cut to support growth; when credit offtake rises, so will deposits: Axis Bank CEO Amitabh Chaudhry

Economic Times

Economic Times · 2m ago

RBI rate cut to support growth; when credit offtake rises, so will deposits: Axis Bank CEO Amitabh Chaudhry

Axis Bank CEO Amitabh Chaudhry sees India’s growth largely unaffected by global challenges, with rate cuts expected to boost credit demand and, in turn, deposits. He's optimistic about Indian entrepreneurship, dismissing concerns over new generations favoring investments over business operations. The influx of Japanese banks in India doesn’t worry him, and he projects cautious optimism regarding deposit mobilization, credit growth, and private capital expenditure, underscoring that new entrepreneurs will drive growth in the coming years.

Surge in tiny personal loans sparks Indian central bank concern

Reuters · 1y ago

Surge in tiny personal loans sparks Indian central bank concern

India's central bank has expressed concerns over the surge in borrowing by low-income consumers for small personal loans. The Reserve Bank of India (RBI) seeks to tighten controls and implement stricter measures to prevent defaults. Delinquency rates for loans under INR 50,000 are significantly higher than the overall retail loan ratio, leading to worries about potential risks for borrowers. The rise in small loans has outpaced overall bank credit growth, prompting the RBI to monitor certain categories of personal loans. Non-bank financial companies are the largest lenders to this segment, with the possibility of exposure for banks as well.

BPEA Credit launches Rs 750 Cr short-term income fund

YourStory

YourStory · 1y ago

BPEA Credit launches Rs 750 Cr short-term income fund

Asian private credit manager BPEA Credit has completed the initial closing of its Select Short Term Income Fund - I at Rs 750 crore, with an option to raise an additional Rs 750 crore. The fund aims to meet the demand for stable, short-term investment opportunities with regular income distribution. It will provide credit solutions to high-growth companies, focusing on capital preservation and steady cash flow. BPEA Credit is one of Asia's largest independent alternative investment funds, with over $21 billion in assets under management.

India has to grow fast, must raise per capita income, says RBI ex-Guv C Rangarajan

IndianStartupNews

IndianStartupNews · 1y ago

India has to grow fast, must raise per capita income, says RBI ex-Guv C Rangarajan

Former RBI Governor C Rangarajan stressed the urgency for India to accelerate its growth rate and increase per capita income. Despite being the fifth largest economy, India ranks 142nd in terms of per capita income. Rangarajan suggested achieving a consistent growth rate of 7% over the next two decades to propel India towards the status of a developed economy. He emphasized the need to integrate emerging technologies and prioritize a multidimensional development strategy for sustainable growth. Strengthening the export and manufacturing sectors was also highlighted as crucial for long-term growth.

Seize the opportunity, invest boldly: RBI Guv Sanjay Malhotra

Economic Times

Economic Times · 3d ago

Seize the opportunity, invest boldly: RBI Guv Sanjay Malhotra

RBI Governor Sanjay Malhotra encourages Indian industry to invest boldly amid record low inflation, a strong fiscal position, and solid corporate balance sheets, fostering an entrepreneurial spirit. He emphasizes the necessity of financial and price stability for sustainable growth and sees the current global economic environment as an opportunity. Malhotra pledges the RBI’s consultative approach, adapting regulations and improving banking operations, creating a favorable environment for growth and investment in India.

Travel & e-commerce cards witness faster adoption rate; fuel credit cards top demand in 2023 across India’s Tier-2 & 3 cities

Startup News FYI

Startup News FYI · 1y ago

Travel & e-commerce cards witness faster adoption rate; fuel credit cards top demand in 2023 across India’s Tier-2 & 3 cities

According to a study by ZET, credit card usage is increasing in India's Tier-2 and 3 cities, with travel and e-commerce credit cards seeing higher adoption rates. Travel credit cards, offering air miles and travel-related rewards, experienced the fastest growth in 2023, followed by fuel credit cards, which provide cashback on fuel purchases. E-commerce credit cards also saw significant demand due to specific benefits like rewards and discounts on online shopping. The study also highlighted that credit card penetration is expected to rise to 10 crore by early 2024.

Chart of the Day: Personal loans perk up for festivals

Money Control

Money Control · 1y ago

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.

No review of action taken against Paytm Payments Bank: RBI Guv

Inshorts · 1y ago

No review of action taken against Paytm Payments Bank: RBI Guv

RBI Governor Shaktikanta Das on Monday said the central bank is currently not planning to review its action taken against Paytm Payments Bank. The central bank will release an FAQ this week, which will address the customer interest issues related to the matter, he stated. "The decisions taken by RBI are taken after due thought process," he added.

Expect positive trend as benefits of rate cuts & consumption boost trickle down: Anand Radhakrishnan

Economic Times

Economic Times · 2m ago

Expect positive trend as benefits of rate cuts & consumption boost trickle down: Anand Radhakrishnan

Anand Radhakrishnan, MD of Sundaram Mutual Fund, believes that rate cuts will enhance liquidity, credit availability, and consumption, which constitutes over 50% of the economy. Despite global and local economic challenges, indicators like GST collections suggest robust aggregate demand. He anticipates increased investment from the government and corporations, leading to a positive trend. Market confidence is influenced by potential moderation in US tariffs and interest rates, fostering optimism for future growth.

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