Mortgages offer silver lining for India's banks as business loans ebb
Home loans pose lower bad-debt risks for banks than corporate loans; smaller towns are driving demand
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Mumbai/New Delhi
INDIA's banks, struggling to boost mainstay corporate loans, are finding a bright spot in a home-buying spree in the country's towns that has driven mortgage-loan growth to the fastest rate in at least six years.
Top lender State Bank of India (SBI), and two big private sector peers - ICICI Bank and Axis Bank - say demand for credit from smaller centres in the country is helping grow their overall home-loans books. Outstanding home loans in India stood at US$103 billion as at end-November.
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