State Bank of India’s portfolio of personal loans surpassed the Rs 5 trillion barrier at the end of November this year. In a portfolio that includes gold, pension, vehicle, and education loans, the bank disbursed Rs 1 trillion in loans in a calendar year. Housing loans aren’t in the portfolio.
The bank’s portfolio of mortgage loans crossed the Rs. 5 trillion thresholds in January 2021. The portfolio is anticipated to reach Rs 7 trillion by the fiscal year 2023—2024 (FY24) and Rs 10 trillion by the fiscal year 2027. Rising wages, a greater desire among young people to own homes early in life, and government initiatives like the reductions in stamp duty and subsidies all contribute to the expansion.
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