B(l)ank future!

IIPM PUBLICATION

Easy availability of auto loans has been one of the key variables driving car sales in the country. Over 85% of car purchases are estimated to have been made using personal loans. But beginning January this year, the effects of interest rate hikes have started showing. The number of cars bought using the finance route have been declining and in May, the figure has declined to 75%.

So, if the consumers themselves start taking a back seat, which they have, what about banks. There is no denying that tough times lie ahead of Indian banking industry and year 2007 will see a bit of moderation in their growth, a fact that bankers too accept. M. B. N. Rao, CMD, Canara Bank justifies the fear, “After three successive years of high growth in credit, resource management has posed a formidable challenge for the banking industry. Monetary tightening and competitive pressures did have an influence on banks’ ability to raise resources in a cost effective manner.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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