Home loans in the affordable housing segment, below Rs 25 lakh, have slumped. In the quarter ended June 2023, credit card payment defaults increased. The approval rate for loans to new-to-credit consumers, whom lenders typically approach with caution, was lower.
The bank currently has a home loan book of Rs 650 crore and plans to increase it to Rs 15,000 crore in the next three years, MD and CEO Sumant Kathpalia said.