Home loans sanctioned by finance companies, including housing finance companies, rose 76% to Rs 79,043 crore in the quarter ended March 2021, from Rs 44,907 crore in Q4FY20. Home loans also showed an expansion of 21.9% to Rs 23,418 cr versus Rs 19,207 cr at T4FY20.
A series of measures taken by state governments, including reducing stamp duties, has boosted demand for home loans. Auto loans showed a 28.3% drop in penalties to Rs 8,646 crore in T4FY21, from Rs 12,058 crore in T4FY20. Personal loans fell 27% to Rs 15,401 crore, from Rs 21,095 crore in Q4fY20.
A significant drop was seen in sanctions against the MSME segment in the fourth quarter (represented by long-term loans, unsecured business loans and home loans) compared to fiscal years 19 and 20.
The industry has yet to catch up with the levels reached in T4FY19, especially in the case of vehicles, EC loans and MSMEs.
Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and cutting-edge commentary on relevant current issues.
However, we have a demand.
As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.