In contrast, the share of industrial loans shrivelled from 45% to 30% over that period. Delving deeper into the retail data throws up patterns that anecdotes would corroborate. Typically free of collateral and therefore priced high, these add up to about 28% of retail debt now. In this context, swelling retail credit should serve as a token of assurance, especially if much of it is for contingencies. But credit that creates real assets, yielding real returns, is what our economy needs rather more acutely.

Source: Mint July 14, 2021 16:07 UTC