BANKING AFFAIRS

Detailed explanation-1: -A bulk of the retail loans in value terms comes from the home loan segment with its portfolio outstanding at Rs 25.5 lakh crore contributing nearly 30% of the retail lending universe.

Detailed explanation-2: -During the financial year 2022, credit cards dominated the retail loans market in India by the count of active loans with a share of 17.2 percent. The segment was followed by personal loans with around 14 percent. Auto loans ranked the lowest in terms of volume.

Detailed explanation-3: -Types of Retail Loans in India The interest rate on a personal loan is higher than that on secured loans such as home and car loans. The repayment tenure of a personal loan is shorter than that of secured loans. 7.90% p.a. and 49% p.a.

Detailed explanation-4: -One of the most common types of Retail loans is a Housing Loan.

Detailed explanation-5: -Retail loans, or loans to individual borrowers, first overtook industrial loans in November 2020, and have since opened their lead-from 1% in December 2020 to 15% in October 2022. Of the four main borrowing sectors, individuals are now the largest for Indian banks.