Share of personal loans in the overall credit has crossed the share of loans given to the industries in the last two years.
Personal loans consist of housing loans, vehicle loans, education loans, credit card payments, etc.
Private banks are leading this personal loan spree.
Put together, as of September 2023, 48.7% of all personal loans given by all banks were housing loans, and as shown in Table 3, they grew 40.7% y-o-y. No other personal loan category outpaced the growth of housing loans. So, both in terms of the overall share and in terms of y-o-y growth, housing loans dominate the personal loan market.
#upsc #upsceconomy #upsccurrentaffairs #upscprelims #prelims2024 #tnpsc #tnpsceconomics #adilsir #adilsireconomy
Personal loans consist of housing loans, vehicle loans, education loans, credit card payments, etc.
Private banks are leading this personal loan spree.
Put together, as of September 2023, 48.7% of all personal loans given by all banks were housing loans, and as shown in Table 3, they grew 40.7% y-o-y. No other personal loan category outpaced the growth of housing loans. So, both in terms of the overall share and in terms of y-o-y growth, housing loans dominate the personal loan market.
#upsc #upsceconomy #upsccurrentaffairs #upscprelims #prelims2024 #tnpsc #tnpsceconomics #adilsir #adilsireconomy
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