Indian Banks' Loan Growth Drops for Fifth Month as Tighter Lending Rules Weigh

INDIA - MUMBAI. Indian banks' loan growth moderated for a fifth straight month in November, central bank data showed, as lenders continued to rein in unsecured and personal loans after the Reserve Bank of India's crackdown on "exuberant" lending.

Banks' credit increased by 11.8% year-on-year last month, slower than the 16.5% rise in November 2023, excluding the impact of HDFC Bank's merger with its parent Housing Development Finance Corp, according to RBI data released late on Tuesday.