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India's Urban Consumption Problem May Have A Credit Angle
Credit card growth has dropped to below 20% in September, while consumer durables loan growth is trending in single digits.
04 Nov 2024, 03:37 PM IST
The slowdown in India's urban consumption is likely facing the wrath of the banking regulator's call to slow down unsecured credit. The central bank's move has led to narrowing of the credit funnel available for retail customers, as lenders slow down the rush. RBI's monthly sectoral credit data shows that loan growth in credit cards, unsecured personal loans and loans for white goods have all come down over the last year, as banks pu...
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