Bank credit to this sector rose 55% year on year to Rs 5,70,900 crore in the third quarter ended December 31, 2018. Wary of piling up non-performing assets (NPAs), banks have slowed down unsecured credit such as personal loans and credit card spends despite the high yields. Growth in credit card loans also slowed with outstanding growing at 31.7% to Rs 84,500 crore. Vehicle loans saw a dip in growth to 8.8% from 9.3% a year ago, with outstanding loans of Rs1,99,200 crore. Bank credit growth to large industries has grown sharply to 5.1% to Rs 22,79,800 crore.

Source: dna February 05, 2019 23:37 UTC