Retail lending by banks shrinks sequentially in November, up 10% YoY

Within this space, vehicle loans continued to perform well, growing at an accelerated 10% this November, compared to 4.7% a year ago, RBI said in statement

Banks extended retail loans worth Rs 33,107 crore November, covering housing, vehicle and credit cards. The scale of lending that month was lower than the volume in October, when retail lending was about Rs 39,780 crore.

According to Reserve Bank of India data, retail loans grew 10 per cent year-on-year in November 2020 as compared with 16.4 per cent growth in November 2019.

Within this sector, vehicle loans continued to perform well, growing at an accelerated 10 per cent in November 2020 vis-a-vis 4.7 per cent in November 2019, RBI said in statement.

Bankers said the pace of retail loan