Retail loan growth slows to 17% in May, reflects slowdown in economy

The outstanding credit in retail category stood at Rs 22.14 trillion in May 2019 as against Rs 19.93 trillion in May 2018

retail, shopping

The pace of retail credit moderated to 16.9 per cent in May 2019 from 18.6 per cent in May 2018, reflecting slowdown in economy. The declaration was more prominent in vehicle loan segment. The year-on-year (YoY) growth dipped to 5.7 per cent in May 2019 from 10.4 per cent in May 2018 in auto segment, according to Reserve Bank of India data, on sectoral deployment of credit.  Bankers said this moderation in credit disbusal was keeping with slump in demand in auto sector covering two wheeler, cars and commercial vehicles in the last few months. For credit cards, the ...