HDFC Consumer Loans Back To Pre-Covid Level

India’s largest private sector lender HDFC Bank said its consumer finance loans are growing and the amount disbursed has got back to the pre-Covid levels of Rs 1,000 crore a month. The city-headquartered lender’s country head for consumer finance Parag Rao said changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present. It can be noted that driving consumption demand in the economy has been one of the toughest challenges which policymakers are grappling with, and economists have expressed concerns about the same. Acknowledging that a part of the traction being witnessed by the bank is pent-up demand, Rao said there is a “set of consumer appliances where demand is going up”.