RBI said on YoY basis, non-food bank credit grew 6.7 per cent in July 2020, the same as June 2020, but lower than the growth of 11.4 per cent in July 2019
For the housing sector, the authorities are aware of the strong linkages it has with the economy.
Consumer durable and housing loan accelerated the most, service sector witnesses a sharp fall in the credit growth rate
HFCs give smaller-sized loans largely to the self-employed borrowers where banks have a lower presence
Micro housing finance companies provide loans to people who have little documents to get a bank loan