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NBFCs’ credit sanctions up 5%, led by consumption loans

Non-banking finance companies have seen a positive, though modest growth of 5% in the third quarter of the current financial year in terms of overall loan sanctions, according to FIDC-CRIF data. 

In a statement, the Finance Industry Development Council and CRIF noted that growth has been by and large led by consumption loans – auto, personal loans, and consumer loans. 

Loans for commercial purposes, such as loans against property, commercial equipment loans, and business loans, have shown a modest or negative growth, indicating that investment demand among MSMEs and other commercial sectors is yet to pick up. 

Commercial vehicle loans have now reached pre-pandemic levels of sanctions. LAS has shown a sharp reduction, perhaps as a result of RBI signals on loans against shares. 

Notably, smaller states (in terms of GDP share) have shown more growth than larger states such as Maharashtra, Delhi, Tamil Nadu, and Gujarat.

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