Updated: June 29, 2022 7:32:04 am
The share of female borrowers in the total individual credit outstanding in the banking sector declined marginally to 22.54 per cent in FY2022 from 22.65 per cent in the previous year. However, total credit outstanding of women rose by 13.92 per cent from Rs 10.27 lakh crore to Rs 11.70 lakh crore as of March 2022, according to the latest Reserve Bank of India data.
According to the RBI, as much as Rs 6.64 lakh crore of female borrowings were personal loans while housing loans accounted by Rs 3.80 lakh crore. The total number of credit accounts of female borrowers were 9.12 crore as against 8.66 crore last year. Female borrowers’ outstanding in the agriculture credit was Rs 3.28 lakh crore in 4.28 crore accounts and Rs 33,350 crore in industry.
Most banks offer a discount to women on home loans which are considered as safe credit avenue by bankers.
On the other hand, male borrowers accounted for Rs 40.20 lakh crore credit outstanding through 17.47 crore accounts as of March 2022, showing a 14.62 per cent rise when compared to the previous year. Total individual credit outstanding, including male and female borrowers, rose to Rs 51.90 lakh crore in 26.59 crore accounts in FY 2022 as against Rs 45.34 lakh crore outstanding in 24.26 crore accounts, the RBI said.
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As much as Rs 12.87 crore of male borrowers outstanding was in home loans through 80.36 lakh accounts while Rs 26.12 lakh crore outstanding was in personal loans.
The RBI said the household sector accounted for more than half of the total bank credit, indicating the high indebtedness of the segment. Lending to the household sector remained robust and its share in total credit stood at 53.8 per cent in March 2022. Total credit to the households rose to Rs 63.93 lakh crore through 28.40 crore accounts as of March 2022 as against Rs 56.43 lakh crore loans in 26.30 crore accounts in the previous year.
The central bank said bank credit growth (y-o-y), which stood at 5.1 per cent in March 2021 increased in successive quarters of 2021-22 to move to double-digits by March 2022. Metropolitan branches led the credit expansion and accounted for 54.5 per cent of the incremental credit during 2021-22 while lending by rural, semi-urban and urban bank branches also recorded double-digit annual growth.
Growth in working capital loans accelerated in successive quarters of 2021-22 to reach 7.1 per cent in March 2022. Weighted average lending rate (WALR) on outstanding credit declined by 42 basis points (bps) during 2021-22 and 24 bps during the quarter ended March 2022, the RBI said.
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