This was aided by demand from individuals, a push by banks and the merger between HDFC Bank and erstwhile mortgage lender Housing Development Finance Corp. Ltd (HDFC).
Retail loans grew at an eyepopping 30% year-on-year (y-o-y) in November, which stood at 19% when adjusted for the merger cited above. In the same period, loans to industry rose at a sedate 6.6% y-o-y to cross 36 trillion.
Historically, corporate loans have far outstripped aggregate retail loans from banks, especially because of their larger ticket sizes. That changed about three years ago when retail loans surpassed credit to corporates for the first time on 20 November 2020.
From that date till 17 November 2023, outstanding retail loans grew at an express 79%, while corporate loans grew at a more measured 28%.
The current retail numbers are skewed somewhat by the HDFC-HDFC Bank merger.
Denne historien er fra January 02, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra January 02, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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