The sharp growth in personal loans is losing momentum as banks have started going slow on unsecured loans following the Reserve Bank of India’s (RBI) hike in risk weight on personal loans last year.
The year-on-year growth of unsecured personal loans of banks have moderated to 23.1% in February from 24.4% in January and 27.6% in December 2023, showed Reserve Bank of India (RBI) data.
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