Credit offtake by companies falters, up just 15.2% in Oct
fe Bureau: Mumbai, Dec 01 2012, 01:22 IST
last year. The slowdown in retail loan was mainly due to a lack of pick up in the housing loan segment, which makes up for a majority of the retail portfolio. Housing loans grew at 12.1% in October, compared with 16.5% last year, even after a slew of banks cut their interest rates on housing loans. However, auto loans continued to grow at a faster pace helped by interest rate cuts by most private and public banks. Auto loans grew at 22.2% last month, compared with 18% growth in the corresponding period last year.
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