BoB credit growth slows down

Bank of Baroda (BoB) Chairman and Managing Director Anil Khandelwal said today the bank's credit growth in October and November remained subdued, belying expectation of a pick-up.

"The overall credit growth remains little subdued compared with the last year's," Khandelwal said.

Banks have not been able to increase their lending rates despite a hike in cash reserve ratio this month due to the sharp decline in credit growth.Between April and October, the bank's loans grew 5 per cent compared with 10 per cent a year ago.