NBFCs, Unsecured Personal Loans Drive Robust Credit Growth In January: CareEdge
The personal loan segment witnessed robust growth in Jan due to strong growth in credit card, vehicle, consumer durables loans etc
BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
CareEdge Research Report
Gross credit offtake continued its robust rise at 16.3% YoY in January 2023 due to strong growth in loans to non-banking financial companies and unsecured personal loans.
Industry credit offtake rose by 8.7%, dampened by significantly lower growth in the infrastructure (2.3%). It was attributed to slow growth in the power sector and a decline in the telecom sector.
Agriculture credit rose by 14.4% YoY in January 2023 versus 10.4% over a year ago.
Credit growth has remained robust in recent months even amid the significant rise in interest rates and is expected to be in the mid-teens for FY23.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.