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Mar 13, 2013
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Slowdown effect: Banks’ home loan growth slips to 12.3% in Jan
Slowdown seems to be creeping into the home loans segment, going by the Reserve Bank of India ‘s sectoral deployment of bank credit data.As of January 25, banks’ loans to the housing segment (including priority sector housing) in year-on-year (y-o-y) terms rose at a slower clip of 12.3 per cent (13.3 per cent in the year ago period).Bank loans to the housing segment was at Rs 4,44,600 crore (against Rs 3,95,900 crore as of January 27, 2012).Though banks have cut interest rates on home loans, high property prices are putting off home buyers in the metros and big cities. However, there is good demand for home loans in smaller cities and towns, said a senior public sector bank official.
Source -
http://www.thehindubusinessline.com
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