Article: PERSONAL LOANS SET TO CAPTURE OVER ONE-THIRD OF BANK CREDIT, SAYS ASSOCHAM STUDY

Report from the India Press Release brought to you by the Hindustan Times

NEW DELHI, India, Oct. 2 -- The Associated Chambers of Commerce and Industry of India (ASSOCHAM) issued the following press release:

The increasing share of personal loans portfolio of Indian banks including housing, car finance and consumer durables is all set to go up to one-third of the total bank credit allocation by FY 2006-07, according to the ASSOCHAM Eco Pulse (AEP) Study.

The personal loans portfolio accounted for the highest increase in credit allocation by banks from Rs. 34,800 crore in FY 1997-98 to Rs. 1,80,000 crore by FY 2003-04. They registered an increase of about 135 percent in FY 2003-04 at 20.5 ...

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