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CareEdge Research Report
Non-food credit offtake slowed to 13.6% in August 2024, on a YoY basis from 19.8% in August 2023 due to higher base effect and a focus on managing the Credit to Deposit ratio (which has remained around 80%).
Further, if we exclude the merger impact, Non-food credit’s August 2024’s growth rate is in line with August 2023’s rate of 15.0%.
Industry and Mortgages have driven credit offtake in August 2024 which has been partially offset by the lower growth in NBFCs and other personal loans.
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Also Read: Hotels Demand To Continue To Outstrip Supply, RevPAR To Grow At 8-9% In FY25: CareEdge Analysis
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