Buck The Trend
The Sponge Is Animated
The party's over, it's crunch time now on loans. Will the Indian consumer go under?
- Retail prime lending rate of home loans at 14.25 per cent, the highest in over a decade
- Over 20 per cent increase in use of credit cards for purchases of grocery and fuel in the last few weeks
- Defaults on loans expected to increase as borrowers find it difficult to meet EMI commitments
- No evidence of slowdown in corporate investments but impact likely in 6-8 months
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