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Retail And Housing Loans See Strong Growth In 2019
Data from the Reserve Bank of India (RBI) showed that while the growth of loans to large industries and medium or small scale businesses shrank for the financial year 2019-20, till November, retail and housing loans grew strongly.
Retail loans rose by 16.40 percent in the 12 months period ending November 2019, however, it was marginally weaker than the 17.20 percent growth seen in the previous year.
Between April and November 2019, retail loan growth was seen at 8.30 percent when compared to the same period in the previous year.
Housing loans jumped 18.30 percent at the end of November from a year ago and 9.90 percent in April-November as against the same period of the previous year.
On the other hand, auto loan growth slowed down sharply as consumption in the sector experienced a decline during the period of review.
