According to the figures shown in the report on Trends and Progress of Banking in India 2006-07 released by the Reserve Bank of India, loans for buying consumer durables has grown sharply in 2006-07. In the current fiscal year there has been the growth of 63 percent to Rs 7,296 crore as compared to the growth in the previous fiscal year which was 17 per cent only.
Although the growth of overall retail portfolio has shown a growth by 29.9 percent as compared to 41 percent in the previous fiscal year but still it was faster than the overall rate of credit growth.
There has been a very low increase of 25.8 percent as compared to 25 .5 percent in the share of retail advances in the total loans and advances of Rs 18,93,775 crore.
The largest portion of the retail collection comprises of housing loans of about 46 per cent. These loans have grown by 25 per cent in 2006-07 to Rs 2,24,481 crore against of 33.4 per cent in the previous fiscal.
Credit card receivables remained strong with a growth of 47 per cent to about Rs 18,317 crore as of end March 2007.
There was a sharp decrease in the auto loans sector showing a growth of 34 per cent to Rs 82,562 crore against 75 per cent growth in the earlier year. Other personal loans grew by 31 per cent to Rs 1,55,204 crore.
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