Loan Demand: Despite Corona, loan demand increased by 11.1 percent in 2021-22, loan market size increased to Rs 174.3 lakh crore

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 increased demand for home loans car loans, and other types of retail loans. The size of India’s debt market has grown by 11.1 percent to Rs 174.3 lakh crore in 2021-22 as compared to 2020-21. During this period, the overall loan portfolio has seen a jump of 49.5 percent in commercial loans and 48.9 percent in retail loans. Microfinance lending grew 1.6 percent.

According to today’s report of How India Lends, CRIF High Mark has witnessed a growth rate of 46 percent in value terms and 122 percent in volume terms in the personal loan segment of retail loans in 2021-22. Public sector banks, private banks, and NBFCs have given the maximum number of personal loans. There has been a 48 per cent increase in new credit card issuance during this period, with the largest number of cards issued by private banks.

According to the report, two-wheeler loans have seen an increase of 9.2 percent in value terms and 8.5 percent in terms of volume during this period. At the same time, there has been a jump of 23 per cent in GTO loans. The growth rate of home loans on a value basis has increased by 29 percent. While the volume growth has been 20 percent. Apart from public sector banks, housing finance companies have been at the fore in giving home loans.

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Business loans have grown by 10 percent in the financial year 2021-22. At the same time, apart from public and private banks, NBFCs have given loans to do more and more 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 a value basis in 2021-22.

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