Personal Loans Growth Down: RBI

Mumbai: Personal loan growth slowed down to 14.2 per cent in the fortnight to January 24, 2025, mainly due to subdued credit offtake of vehicle loans and credit card outstanding, according to the Reserve Bank data.

The RBI on Friday released data on sectoral deployment of bank credit for January 2025 collected from 41 select commercial banks, accounting for about 95 per cent of the total non-food credit deployed. On a year-on-year (y-o-y) basis, non-food bank credit as of the fortnight ended January 24, 2025, grew at 12.5 per cent (a three-month high) as compared to 16.2 per cent for the corresponding fortnight of the previous year (Jan 26, 2024), the RBI said.