India’s central bank expands review of credit ‘boom’


economy

Reuters exclusive report The Reserve Bank of India is stepping up efforts to crack down on the retail lending “boom”, targeting new areas including “top-up” loans linked to mortgages, amid concerns about rising risks to the financial system.

market impact

Credit extended by Indian banks is growing at about 16% annually, more than double the Indian economy’s forecast growth of 7.6%. fiscal year Although the Reserve Bank of India has raised interest rates by 2.5 percentage points over the past two years, rates will remain unchanged as of this month.A

Article tags

Topics of interest: economy

type: Reuters Best

department: Economics and Policy

area: Asia

nation: India

Winning type: exclusivity

Story type: exclusive/exclusive report

media type: text

Customer Impact: important national stories



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By Ali Raza

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