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Slow Economy Reflected by Slow Retail Loan Growth of 17%
July 01, 2019
Retail credit growth slowed down to 16.9% in May 2019 compared to 18.6% last year during the same period, an indicator of a slowed economy itself. According to the bankers, one of the reasons behind fewer loan disbursals is the lack of demand in the auto sector that covers commercial vehicles, and two-wheelers and four-wheelers.
Credit growth in credit cards reduced to 26.1% in May 2019 compared to 33.1% last year. However, the same in the housing sector increased from 15.5% to 18.7%.
Photo credit: European Parliament Technology – DG ITEC on Visual Hunt / CC BY-NC-SA
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