Banks are offering special schemes on loan products to tap into the festive demand with the majority of sops offered in the home, vehicle, gold and personal segments. Banks have partnered with several e-commerce and offline brands and are relying heavily on digital lending to drive festive season loan demand which is typically the strongest in the third quarter. As per the data released by the Reserve Bank of India (RBI), banking sector credit overall grew by 15-16% in July and August. The growth is led by personal loan segment, which includes home, vehicles, education and consumer durables segments. There is an expectation that consumer demand is going to return in full swing after two years of a lull owing to the pandemic. For lending for discretionary spends such as electronics, home decor, travel and apparel banks have leveraged their digital platforms, cards and tie-ups.