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Mumbai, Nov. 27 Loans for buying consumer durables grew sharply in 2006-07. According to the Report on Trends and Progress of Banking in India 2006-07 released by the Reserve Bank of India, such loans grew by 63 per cent to Rs 7,296 crore. In the previous fiscal, such loans had only grown by 17 per cent.

The growth of overall retail portfolio of various banks decelerated in 2006-07 although it was still faster than the overall rate of credit growth.

The retail portfolio grew by 29.9 per cent compared with about 41 per cent in the previous fiscal.

The share of retail advances in the total loans and advances of Rs 18,93,775 crore increased just a shade to 25.8 per cent compared with 25.5 per cent.

Housing loans comprise the largest component of the retail portfolio with about 46 per cent. These loans grew by 25 per cent in 2006-07 to Rs 2,24,481 crore against about 33.4 per cent in the previous fiscal.

Credit card receivables remained robust with a growth of 47 per cent to about Rs 18,317 crore as of end March 2007.

Auto loans showed a sharp deceleration in growth at 34 per cent to Rs 82,562 crore against 75 per cent growth in the earlier year. Other personal loans grew by 31 per cent to Rs 1,55,204 crore.

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