Maharashtra tops the list of Indian states when it comes to availing consumer finance from commercial banks, other key lending institutions and microfinance companies. The state accounted for nearly 18 per cent of the consumer loan receivables of Rs 36.42 lakh crore at the end of June, showed data from the India Consumer Credit Trends report compiled by Equifax, a credit information bureau.
The top four states represented 49 per cent of the total retail portfolio while the top 10 states accounted for 83 per cent of the portfolio, said the report. Maharashtra is followed by Tamil Nadu with a 12 per cent share, Andhra Pradesh (including Telangana) with 10 per cent and Karnataka with 9 per cent.
But when it comes to delinquencies in retail loans, Punjab tops the list. The delinquencies here refer to loans whose payments have not been made for at least 90 days past due date. Punjab had a delinquency rate of 3.09 per cent, which means banks have not received principal or interest payments for Rs 309 out of every Rs 10,000 lent. This was followed by West Bengal, which had a delinquency rate of 2.27 per cent and Uttar Pradesh with 2.19 per cent.
Maharashtra was towards the bottom of the pack with a rate of 1.39 per cent. However, this was a 7-basis-point increase from the previous quarter. 100 basis points make one percentage point. The increase in delinquency for Maharashtra was attributed to business and farm loans while partly offset by lower delinquency of mortgage, said the report.