{"id":125787,"date":"2024-09-01T22:47:17","date_gmt":"2024-09-01T22:47:17","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/01\/personal-loans-grow-14-driven-by-cards-gold-mumbai-news-times-of-india\/"},"modified":"2024-09-01T22:47:17","modified_gmt":"2024-09-01T22:47:17","slug":"personal-loans-grow-14-driven-by-cards-gold-mumbai-news-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/01\/personal-loans-grow-14-driven-by-cards-gold-mumbai-news-times-of-india\/","title":{"rendered":"Personal loans grow 14% driven by cards &#038; gold | Mumbai News &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"398\" height=\"225\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/thumb\/msid-112975686,imgsize-226334,width-400,height-225,resizemode-72\/112975686.jpg?fit=398,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Personal loans grow 14% driven by cards &#038; gold | Mumbai News &#8211; Times of India\" title=\"Personal loans grow 14% driven by cards &#038; gold | Mumbai News &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div>\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>MUMBAI: <!-- -->Credit card dues<!-- --> have emerged as the fastest-growing segment among sectors that account for over 1% of total <!-- -->bank loans<!-- --> as of July end. <br \/>Outstanding credit card balances grew 22% year-on-year to nearly Rs 2.8 lakh crore. The fastest growing segment in <!-- -->personal loans<!-- --> was, however, loans against <!-- -->gold jewellery<!-- -->, which represented 0.8% of total bank credit and grew 39%.<br \/>As of July end, agriculture and allied activities made up 12.8% of non-food credit, while services accounted for 27.4%. Personal loans held the largest share at 32.9%, followed by industry, which comprised 22.2%.<\/p>\n<div data-pos=\"0\" class=\"id-r-component QbQNS undefined  &#10;        \">\n<div><img decoding=\"async\" alt=\"Personal loans grow 14% driven by cards &amp; gold.\" msid=\"112975670\" width=\"600\" title=\"\" placeholdersrc=\"https:\/\/static.toiimg.com\/photo\/83033472.cms\" imgsize=\"23456\" resizemode=\"4\" offsetvertical=\"0\" placeholdermsid=\"\" type=\"thumb\" class=\"\" src=\"https:\/\/static.toiimg.com\/thumb\/imgsize-23456,msid-112975670,width-600,resizemode-4\/112975670.jpg\" data-api-prerender=\"true\"\/><\/div>\n<\/div>\n<p>According to RBI&#8217;s sectoral data on bank credit, personal loans remained a significant driver of credit growth, increasing by 14.4% to reach nearly Rs 55.3 lakh crore. Agriculture and allied activities saw an 18.1% increase in credit outstanding to total to about Rs 21.6 lakh crore.<br \/>Personal loans grew faster than the industry rate of 13.7% despite home loans &#8211; the largest segment in the category &#8211; seeing slower growth of 12.8%, with outstanding loans rising Rs 28.1 lakh crore.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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Outstanding credit card balances grew 22% year-on-year to nearly Rs 2.8 lakh crore. The fastest growing segment in personal loans was, however, loans against gold jewellery, which represented 0.8% of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":125788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-112975686,imgsize-226334,width-400,height-225,resizemode-72\/112975686.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[87853,9534,101865,15400,2336,47673,7743,273,25174,352,14517,14516,14518,14519,271,2635,41799,101864,272,14520],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/125787"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=125787"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/125787\/revisions"}],"predecessor-version":[{"id":125789,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/125787\/revisions\/125789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/125788"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=125787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=125787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=125787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}