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Banks Expect Loan Demand Surge Due To GST Rate Cut, Boost In Consumption
The New Indian Express Bhubaneswar
|September 06, 2025
WITH credit growth remaining anemic so far this fiscal, printing in at 9.5%, down from 15% in the year-ago period, banks are now hoping to ride on the likely consumption boom being spawned by the GST cuts announced this Wednesday.
It is not only corporate credit that has been slowed down, at 5.5%, down from 7.7% a year ago; consumption loans have also tapered off and printed in at only 14.5% year-on-year to ₹105.6 lakh crore in Q1FY26. This is led primarily by gold loans, which surged 34.6%, followed by two-wheeler and auto loans, while home loans have slowed to under 10% and its agri and small business loans that are holding up.
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