 "banks")
A report by rating agency Crisil and private lender ICICI Bank says the retail loan book of banks and non-banking financial companies (NBFCs) will double to Rs 96 trillion by March 2024 from Rs 48 trillion at the end of FY19.
The growth will be fuelled by greater demand for private consumption (namely home, car, consumer durables, and credit cards), willingness of consumers to take loans, increased availability of various consumer data, better use of data analytics and regulatory steps propelling growth in low-cost housing loans and micro, small & medium enterprises loans.
The report titled ‘Mining the Golden Opportunity in Retail
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