Retail, NBFCs drive credit offtake in FY23
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.
Housing finance companies could keep losing market share to banks amid intense competition on interest rates, says CRISIL.
A large quantum of borrowings to be raised by large NBFCs would lead to a further increase in the banks' exposure to the sector.
The RBI says these companies flouted the extant rules on the charging of excessive interest and resorted to "undue harassment" of customers for loan-recovery purposes.