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Mumbai: Banking credit to industry remained robust, increasing 19% year-on-year due to broad-based growth from both large and small companies. Personal loan growth also remained strong, expanding 16% YoY compared to 12% a year ago, the latest sectoral data for June showed.
In the personal loan segment, loans against gold jewellery, which include certain agriculture loans, remained the fastest-growing sector, surging 93% YoY, data published Friday by the Reserve Bank of India (RBI) showed. Vehicle loans with a 17% growth were the second-fastest in the personal loan segment. Credit card outstanding growth decelerated to 2% compared to 7% recorded a year ago.
Growth in education loans also remained strong at 13% versus 14% recorded a year ago.
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https://economictimes.indiatimes.com/markets/stocks/news/bank-credit-to-industry-up-19-personal-loans-stay-strong/articleshow/132779540.cms
