Bank credit disbursal to the service sector remained resilient despite a slowdown in credit growth to non-banking finance companies, the Economic Survey for fiscal 2023-24 showed.
The survey also showed that within the services sector, credit disbursal to the ‘commercial real estate’ and ‘trade’ sub-sectors improved in H2FY24.
Personal loans and NBFCs have the largest share of credit disbursed by banks. Within personal loans, housing loan growth remained range-bound during FY24, with signs of improvement in April and May 2024, survey added.
(This is a developing story, please check back for more details)
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