People took huge personal loans and got a record Rs 55.3 lakh crore
The tendency of taking loans among people is increasing rapidly, due to which the number of lenders in the country is increasing rapidly. According to a recent report, people have achieved a record high in taking loans. The people of India cautiously took loans to fulfill their desires. According to the report, people have taken maximum loans through credit cards and gold, due to which personal loans have increased by 14 percent.
According to a Reserve Bank report on bank lending, personal loans rose by 14.4 per cent in July. With this, the loan amount reached a record high of Rs 55.3 lakh crore. In terms of year-on-year growth, the maximum loans granted was for gold at 39 per cent, while credit card loan occupied the second spot.
Credit card fees also increased
According to the report, an 18.1 per cent increase was observed in outstanding loans in agriculture and allied activities, which amounted to Rs 21.6 lakh crore. Another surprising thing has come to light in the report. According to this, the number of users who have credit card dues is increasing rapidly. That means they either took a loan on the card or spent the money but did not pay the bill. The report states that outstanding credit card dues have increased by 22 per cent year-on-year to about Rs 2.8 lakh crore.
1.7 crore rupees spent through credit cards
A report released by SBI Securities states that Indian credit card holders spent Rs 1.7 lakh crore through credit cards in July this year. This amount is 19 per cent more than the same month last year. The report also states how many times people made credit card transactions in July. According to this, a total of 38.4 million transactions were made in July. This figure is also 39 per cent more than the same month last year.
UPI transactions surge by 41% in August
There were a record 14.96 billion transactions on UPI in the month of August with a 41 per cent increase (year-on-year). With this, the total transaction amount reached Rs 20.61 lakh crore. This was 31 per cent more than the same period last year. This information was obtained from the National Payments Corporation of India (NPCI) data on Sunday. The average daily transaction amount last month was Rs 483 crore, taking the average daily transaction amount to Rs 66.475 crore. In such a situation, if reports are to be believed, UPI transactions have crossed Rs 20 lakh crore for four consecutive months.
