Author(s): Jacob Joju, Sankar Ganesh K, Ranjith K, Manoj P K and Prajith K
Considering the general sluggishness in the growth of bank credit and the prospects of retail credit, especially housing finance, to propel credit growth in an economy like India where the credit to GDP ratio and mortgage to GDP ratio are very poor, this paper suggests aggressive promotion of housing finance and other retail banking products for the faster economic growth. The linkage effects of housing and its ability to trigger growth in many other allied sectors are noted. Due to its huge potential, ICT adoption gives another dimension to the effective promotion of retail banking. The need to ensure sustainability in the growth process by using environment-friendly materials, processes and methods as well as by the adoption of green banking, ICT and such other methods is specifically noted in this paper.