Indians are now borrowing more than before | union-budget$budget-and-you | Hindustan Times
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Indians are now borrowing more than before

A maturing banking market has meant Indians are now borrowing more from the formal financial system than before.

union budget Updated: Feb 29, 2016 10:56 IST
HT Correspondent
The average lending rate have come down.
The average lending rate have come down. (Shutterstock)

A maturing banking market has meant Indians are now borrowing more from the formal financial system than before.

The cost of borrowing, although falling in recent months, is now a fixed factor in most households’ monthly expense.

The following line chart shows the fall in bank loan rates over the years.

For 1991-2000, the SBI Advances rates are taken as the benchmark.

For 2000 onwards, the average lending rates as collated by RBI are taken as the benchmark; wherever there is a range, the lowest end of the range has been taken.

For more such charts click here.

Charts by Harry Stevens, Research by HT Business Desk