Google News
spot_img

Retail loan quality deteriorating in India: CRISIL

Must Read

Ratings agency CRISIL said that Indian retail loan quality has deteriorated with rising interest rates, and some lenders could suffer significant losses.

The agency expected gross non-performing retail loan assets to increase to around four per cent of total retail loans by March 2009 from 2.7 per cent in March 2007.

“The system as a whole can absorb this, but lenders who are heavy on unsecured loans and on high-risk customers will suffer significant losses,” Tarun Bhatia, head of financial sector ratings at CRISIL, said in a statement.

Retail credit comprises a major portion of several top private sector banks including ICICI Bank and HDFC Bank.

Latest News

Avenue Supermarts shares plunge over 8%

In terms of volume, 48.77 lakh equity shares of Avenue Supermarts were traded on the NSE and 1.41 lakh...