New Delhi, Feb 26 (TIWN) Rural consumption in Q3FY22 is estimated to have grown 2 per cent on a year-on-year (YoY) basis.

As per India Ratings and Research, lowest interest rates seen in decades along with stable property prices and the low impact of the Covid-19's third wave have led to improved affordability for borrowers.  "This accompanied with the need for a bigger housing space during the pandemic bodes well for financers to drive the overall assets under management (AUM) growth higher, despite high competition from banks," the ratings agency said.