Home Loans Remain Biggest Household Debt | India Business News


MUMBAI: The increase in household borrowing can be seen in the increase in credit card outstanding from a little under Rs 1.3 lakh crore in end July 2021 to over Rs 1.6 lakh crore. The number is higher than March 2022 when the outstanding was a little lower than Rs 1.5 lakh crore.
The biggest household borrowing continues to be in the segment of home loans that now stands at nearly Rs 17.7 lakh crore as of end-July 2022. The share of home loans in bank credit has gone up from 13% in end-July 2020 to 14% in end-July 2021 and has gone up marginally to 14.34% in July 2022.
While growth in home loans has moderated, the share will see a spike following the merger of mortgage giant HDFC with HDFC Bank, which will see the home loan book of banks cross Rs 21 lakh crore.
In the personal loan segment, since end-March 2022, consumer loans and advances against fixed deposits have shown the fastest growth of 16.5% and 11.8%, respectively. During this period, home loans grew by only 5%.
In the industries segments, growth was subdued as loans to gems and jewellery, telecom, engineering, and edible oils shrank in absolute terms from the end March 2022 levels. The sectors that recorded highest credit growth in absolute terms were Metals, Chemicals, Power, Roads and Airports.
In terms of market share, infrastructure account for 38% of all industrial loans with nearly 20% being contributed by the power sector, followed by roads (8%) and telecom (4%).





Source link

Leave a Comment

Adani Group Companies Return रश्मिका मंदाना की ये कातिल अदाएं Rashmika Mandana Fitness Mantra रश्मिका मंदाना खुद को कैसे रखती है फिट रश्मिका अपनी डाइट में फल और नारियल पानी को जरूर शामिल करती हैं