ABN Amro Bank’s country executive Meera Sanyal said in Mumbai that there has been rise in the number of personal loan defaulters in its India operations.
"This is a part of the credit cycle, we have to be careful with it. The whole banking sector has to deal with this," Sanyal said.
But she refused to give out the count of the bank's personal loan portfolio in India.
She added in the current economic slowdown conditions the medium term growth will be slow but expects good growth in the long term.
Adding to this Sanyal said by October inflation might touch 13-14 percent but after that it will decrease off.
"Since the oil and commodities prices are falling, in the long run there will be a strong consumer demand," Sanyal added.
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