Added on : 2018-03-22 18:25:37
A boom in credit-fuelled consumption has made India's retail banking one of the biggest among emerging markets outside of China. Going by banks’ retail loans outstanding, worth $269 billion at the end of September 2017 quarter, India's retail banking is now bigger than Russia’s ($248 billion), Malaysia’s ($211.3 billion) and Mexico’s ($190 billion). However, Brazil ($439.4 billion) and Thailand ($310 billion) remain ahead of India, according to data from Bank for International Settlement (BIS). The size of India's retail loan market would cross the $400-billion mark if the loan book of retail non-banking financial companies (NBFCs) like Housing Development Finance Corporation (HDFC), Bajaj Finance, Indiabulls Housing Finance and Shriram Transport Finance were to be included.