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Comments by "M" (@mg.f.9023) on "Why is RBI raising some concerns about the banking system?" video.
'Of the total personal loans, unsecured loans jumped more than four-fold to Rs 13.32 lakh crore as of March 2023 from Rs 4.26 lakh crore in March 2017, according to the agency, recording a growth rate of 23 per cent in the final year over FY22, when it stood at Rs 10.81 lakh crore. It attributed the surge in numbers to deepening income crises, and pushing of credit by fintechs and their NBFC lending partners in an unprecedented manner. Personal loans are typically consumption loans and are unsecured in nature, which constitute nearly a third of the total bank credit.' - Economic Times 24 Nov 2023
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