Business Standard

Retail loan book of banks, NBFCs will double to Rs 96 trn in 5 yrs: Report

Loans to MSMEs are also likely to double to Rs 13.2 trillion from Rs 6.6 trillion in FY19

banks
Premium

Nidhi Rai Mumbai
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

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in