Key Points
Also the growth in credit card outstanding to which the measures are also applicable, also slowed...
The RBI data since November 17 shows that growth in unsecured lending in December moderated to 22.9 percent year-on-year compared to 24.3 percent in November according to RBIs latest release on sectoral data of bank credit on Wednesday..
``Post the November 16 2023 norms which are also applicable to credit card portfolios, banks have continued to remain cautious in their credit assessment of new customers." said Chitrabhanu K.G., senior vice president at Federal Bank...
The growth in credit card outstanding in December was contained at 32.6 percent year-on-year compared to 34.2 percent in November..
The data id collected from 41 select commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all commercial banks, the RBI said in the release...
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