Indian banks’ retail growth may take a hit due to a slow down in motorcycle and car sales and liquidity tightness in the market. The newest data from the RBI shows that the personal vehicle loan portfolio made up by cars and two-wheeler loans grew 6.5% in fiscal 2018-19 as against 11.3% in the past fiscal. At Rs 2 lakh crore, this portfolio constitutes almost 10% of all retail credits in the commercial banking system.
During FY19, the Indian passenger vehicle industry sold 33.8 lakh units, posting a growth of 2.7% —the slowest in the past five years. Two-wheeler sales grew 4.9% to 2.1 crore units in FY19, as against the preceding fiscal’s high of 14.9%.
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