Bank loans to NBFCs slow, card & gold continue to surge

Bank credit to non-banking finance companies saw a significant decrease to 8.5% year-on-year growth by June 2024, compared to 16% in May. However, credit card and gold jewellery loans continued to grow strongly. Personal loans remained the biggest driver with 25% growth, with home loans particularly robust. Credit to services and commercial real estate also grew significantly.

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