The share of states in the lower end of the market has increased from 44% of total debt in 2013-14 to 49% in 2023-24. Data shows that the three states together account for more than half of all retail loans disbursed by banks.
While Maharashtra and Delhi occupied the top two positions for the past ten years, Gujarat overtook Tamil Nadu as the third largest state in terms of retail credit from FY 2020-21.
The Reserve Bank of India classifies home purchase, consumer durable loans, vehicle loans, credit card balances and unsecured loans as retail loans.
agenciesExcluding the impact of the HDFC-HDFC Bank merger, the banking sector’s share of retail loans increased from 18% in 2013-14 to 31% last fiscal. Excluding the impact of the merger of HDFC and HDFC Bank, home loans accounted for the bulk of these loans in FY24 – 47%.
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Because of this, demand for retail loans is high where home sales are high and home prices are high. Maharashtra accounts for nearly one-fourth of the banking sector’s retail loan portfolio
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