• Home
  • Terms and Conditions
  • Privacy Policy
  • Copyrights & DMCA
  • Cookie Policy
  • Contact Us
Thursday, July 7, 2022
Daw Rimiz
No Result
View All Result
  • Login
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us
No Result
View All Result
DawRimiz
No Result
View All Result
Home Business

Banks’ consumer durable loan business shrinks 75%

Donna Gilbert by Donna Gilbert
January 2, 2022
in Business
0
Banks’ consumer durable loan business shrinks 75%
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The volume of the banking sector’s consumer durable loan pie has shrunk 75% year on year.

Banks' consumer durable loan business shrinks 75% 1

Article Summary show
READ ALSO
Security becomes a ‘smart’ business opportunity
Ericsson teaches Anil Ambani and India’s nascent bankruptcy system a lesson

READ ALSO

Security becomes a ‘smart’ business opportunity

Ericsson teaches Anil Ambani and India’s nascent bankruptcy system a lesson

KOLKATA: Zero-cost financing schemes and cash-backs have taken the fizz out of vanilla consumer durable loans offered by banks. The volume of the banking sector’s consumer durable loan pie has shrunk 75% year on year while non-banks continue to thrive with attractive packaging of loan products.

According to the Reserve Bank of India data, banks outstanding consumer loans now stood at Rs 4600 crore at the end of January, against Rs 19700 crore a year back. This was despite private sector lender HDFC Bank’s recent thrust on this segment.

This also reflects a muted consumer demand post-September.

“There was a shift to borrowing from NBFCs which provide such loans. Demand for such goods against credit also came down as the post-harvest / festival season demand did not work out,” CARE Ratings chief economist Madan Sabnavis said.

Leading electronics retailer with 82 stores Vijay Sales director Nilesh Gupta said consumers have shifted to no-cost or zero-cost finance from NBFCs or through credit card while there is hardly any consumer who comes with a bank cheque nowadays.

Japan’s leading consumer electronics maker Panasonic India chief executive officer Manish Sharma said people are upgrading their purchases with the help of easy financing options raising the consumer bill value.

“There has been an increase of almost 30% on the value of consumer finance. For appliances, almost 45% of purchases are driven by finance while for television it is around 52%,” said Sharma.

These loans are normally for a period of a year and hence would have been repaid before the start of the festival season – Janmashtami, Ganesh Chaturthi, Nag Panchmi – beginning August.

CARE Ratings’ Sabnavis said the fall in banks’ consumer durable loans came down sharply in August showing the shift in consumers’ preference in favor of getting a loan from NBFCs.

Related Posts

Security becomes a ‘smart’ business opportunity
Business

Security becomes a ‘smart’ business opportunity

July 7, 2022
Ericsson teaches Anil Ambani and India’s nascent bankruptcy system a lesson
Business

Ericsson teaches Anil Ambani and India’s nascent bankruptcy system a lesson

July 7, 2022
Nirav Modi arrested in London, to appear in UK court today
Business

Nirav Modi arrested in London, to appear in UK court today

July 7, 2022
NASA discovers pulsar speeding through space
Business

NASA discovers pulsar speeding through space

July 7, 2022
West Nile Fever: Health Ministry reviews preparedness in Kerala
Business

West Nile Fever: Health Ministry reviews preparedness in Kerala

July 7, 2022
Explained: Why Qatar is an unlikely suitor for Jet Airways
Business

Explained: Why Qatar is an unlikely suitor for Jet Airways

July 7, 2022
Next Post
Tata enters airports business with a stake in GMR Infrastructure

Tata enters airports business with a stake in GMR Infrastructure

No Result
View All Result

Categories

  • Business
  • Care Services
  • Cleaning Services
  • Customer Service
  • Dessert
  • Diet
  • Drinks
  • Errand Services
  • Exercise
  • Fashion
  • Fast food
  • Fitness
  • Food
  • Gold
  • Health
  • Home Services
  • Kids
  • Lifestyle
  • Market
  • Money
  • Music
  • Office Services
  • Online Services
  • Recipe
  • Services
  • Sports
  • Stock
  • Technology
  • Transport Service
  • Travel
  • Writing Service

Recent Posts

  • Security becomes a ‘smart’ business opportunity
  • Ericsson teaches Anil Ambani and India’s nascent bankruptcy system a lesson
  • Nirav Modi arrested in London, to appear in UK court today
  • NASA discovers pulsar speeding through space
  • West Nile Fever: Health Ministry reviews preparedness in Kerala
  • Home
  • Terms and Conditions
  • Privacy Policy
  • Copyrights & DMCA
  • Cookie Policy
  • Contact Us

© 2021-2022 Dawrimiz All Rights Reserved Dawrimiz.

No Result
View All Result
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us

© 2021-2022 Dawrimiz All Rights Reserved Dawrimiz.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In