How India Lends Report: The financial year 2021-22 was affected by the second wave of Corona. Despite this, there has been a tremendous jump in the size of the loan market in the last financial year due to the increase in the demand for home loans to car loans and other types of retail loans. The size of India’s loan market has increased by 11.1 percent to Rs 174.3 lakh crore in 2021-22 as compared to 2020-21. During this period, the total loan portfolio has seen a jump of 49.5 per cent in commercial loans and 48.9 per cent in retail loans. Microfinance lending has grown by 1.6 per cent.
According to its How India Lends report today, CRIF High Mark has witnessed a growth rate of 46 per cent in value terms and 122 per cent in volume terms in the personal loan segment of retail loans in 2021-22. Government banks, private banks and NBFCs have given maximum personal loans. There has been a 48 percent increase in the issuance of new credit cards during this period, with the maximum number of cards issued by private banks.
According to the report, during this period, two wheeler loans have seen an increase of 9.2 percent in terms of value and 8.5 percent in terms of volume. On the other hand, there has been a jump of 23 percent in GTO loans. The growth rate of home loans by value has increased by 29 percent. While the volume growth has been 20 percent. Apart from public sector banks, housing finance companies have been ahead in giving home loans.
Business loans have increased by 10 percent in the 2021-22 financial year. At the same time, in addition to government and private banks, NBFCs have given loans to do maximum business. According to the report, there has been a huge demand for consumer durables loans in 2021-22 and there has been a 66 percent jump in the demand for loans on value basis in 2021-22.
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