Most property purchases in India include a loan, typically from a bank or a non-banking financial company, or NBFC.
Bank loans to residential real estate rose 16 per cent year over year to Rs 18.058 lakh crore as of September 30, according to data released October 31 by the Reserve Bank of India, or RBI. NBFCs, where mortgages are spread across a range of lenders from dedicated housing finance companies to consumer finance firms, saw loans a rise of 18.8 per cent to Rs 3.03 lakh crore, the S and P Global Market Intelligence said in a statement on Sunday.
"We expect asset quality to remain broadly steady in the home loan segment," Krishnan Sitaraman, senior director and deputy chief ratings officer at CRISIL, told S and P Global Market Intelligence. "Historically, asset quality on home loans for banks and NBFCs has not weakened too much."
The gross non-performing
loan ratio in the banks' home loan portfolios stood at 1.7 per cent as of March 2022, and has generally stayed below 2 per cent, Sitaraman noted.
This story is from the November 29, 2022 edition of The Business Guardian.
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This story is from the November 29, 2022 edition of The Business Guardian.
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