 "Need cash now? Avoid taking a personal loan for discretionary purchases")
The coronavirus (Covid-19) pandemic dented the growth in the personal loans segment as the portfolio expanded by a meager 0.57 per cent in the first five months of the current fiscal (FY21), according to CRIF High Mark.
The outstanding portfolio stood at Rs 5.07 trillion at end of August 2020.
Navin Chandani, MD & CEO, CRIF High Mark said that in FY21, Covid-19 disruptions had resulted in restricted lending by financiers who were earlier steering the volume growth of the PL market. There is small growth and not a sharp clampdown, he added.
The personal loan segment had registered a
