NBFC loan sanctions up 2% YoY to Rs 4.46 trn in quarter ending March
Pulled down by a demand deceleration from urban and semi-urban customers and a contraction in personal and home loans, non-bankers loan book grew just about 2 per cent in Q4 FY23 to Rs 4,46,132 crore from Rs 4,38,345 crore a year ago when it soared 28 per cent year-on-year.
Even this wouldn't have been possible had it not been for better demand from the hinterland, shows the latest data from the apex industry body FIDC (Finance & Industry Development Council).
However, for the full year, the NBFC system-wide lending jumped a healthy 23.9 per cent to Rs 16,93,286 crore from Rs 12,87,484 crore. In absolute terms, incremental lending rose by 4,05,802 crore, according to the FIDC data.
The industry's rural book rose to Rs 1,20,000 crore in Q4 from Rs 1,09,000 crore in Q1 of FY23, semi-urban rose from 47,000 crore in Q1 to Rs 50,000 crore in Q4, and the urban book rose to Rs 2,78,000 crore from Rs 2,74,000 crore in the reporting quarter.
Of the total loan disbursed in the March 2023 ...