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Bank credit growth to NBFCs slows to four-year low in 2024
Financial Express Kochi
|February 21, 2025
SEEKING DIVERSIFICATION
BANK LENDING TO non-banking financial companies (NBFCs) grew at its slowest pace in four years, rising 6.7% in 2024 to ₹16.22 lakh crore as of December, compared with a 15% growth in 2023.
The sharp slowdown was driven by higher funding costs after the Reserve Bank of India (RBI) raised risk weights on such loans. In absolute terms, banks' lending to NBFCs fell to ₹1 lakh crore in 2024, compared with nearly ₹2 lakh crore in the previous year, according to RBI data.
"The slowdown in bank credit to NBFCs mirrors the decline in unsecured loans. The RBI's move to raise risk weights has effectively curbed the growth of credit to both NBFCs and unsecured loans," said the head of credit at a public sector bank.
Cette histoire est tirée de l'édition February 21, 2025 de Financial Express Kochi.
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