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Are we seeing the beginnings of India’s sub-prime loan problem?

NBFC consumer lending data show 45 percent of origination is from the ‘below prime’ segment

November 05, 2019 / 08:56 AM IST
Are we seeing the beginnings of India’s sub-prime loan problem?

Shishir Asthana   If credit growth is any indication, then the economy is far from bottoming out. The government’s attempt to boost credit during the festival season by announcing a loan mela has fallen apart. RBI data show that outstanding non-food credit barely grew at 0.22 percent between 27 September and 11 October. Recall that the loan mela was conducted by banks during 1-9 October across 250 districts. More importantly, consumer credit growth was among the few segments that were giving some...

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