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There has a been significant increase in home loans and credit cards, according to Credit Information Bureau (India) Ltd (CIBIL).
Disclosing the credit trends at a press conference here on Friday, Harshala Chandorkar, Senior Vice President – Customer Relations, CBIL, said the home loan growth was being driven by higher demand for loans in Mumbai, Pune, Bengaluru and Delhi.
Over 3.9 lakh home loan accounts were opened in the first quarter of 2015 and the home loan delinquency has come down to 0.57 per cent by the first quarter of this calendar year compared with 1.06 per cent by the end of 2010.
While over eight lakh new credit card accounts were opened in the first quarter of last year, this year the number was at 10.8 lakh.
Delinquency on credit cards has also come down from 3.27 per cent at the end to 2010 to 1.06 per cent by Q1 2015. Maximum number of credit card applications comes from Mumbai closely followed by Delhi and Bengaluru.
"This growth is being driven by increased availability of credit information. About 80 per cent of all retail loans sanctioned by banks are based on CIBIL scores,’’ Chandorkar said.
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