Personal loan growth at 20.4 per cent in January on good demand: RBI
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The total outstanding personal loans stood at Rs 39.59 lakh crore as on January 27, 2023, as against Rs 32.87 lakh crore in the same period a year ago, RBI data showed.
The growth rate of personal loans in January 2023 has been 20.4 percent due to good demand from the home and vehicle sectors. This information has been received from the data released by the Reserve Bank of India (RBI) on Tuesday. The growth rate of personal loans in January 2022 was 12.8 percent. The total outstanding personal loans stood at Rs 39.59 lakh crore as on January 27, 2023, as against Rs 32.87 lakh crore in the same period a year ago, RBI data showed. Housing loan outstanding rose to Rs 18.88 lakh crore till January this year, from Rs 16.36 lakh crore in the same period last year.
Similarly, vehicle loan outstanding increased to about Rs 5 lakh crore, from Rs 3.95 lakh crore in January 2022. Non-food credit increased by 16.7 percent on an annual basis. The segment had grown by 8.3 per cent in the same period a year ago. Similarly, credit growth to agriculture and allied activities stood at 14.4 per cent, as against 10.4 per cent in the same period a year ago. Credit growth to industry increased to 8.7 per cent during the period under review, from 5.9 per cent in January 2022.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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