 "Credit growth a bit down in November")
Amid tepid economic growth and weak demand, annual growth in bank credit fell to 14.2 per cent as of November-end. At the end of October, bank credit had recorded 16.1 per cent year-on-year growth. As of November 29, the banking system’s loan portfolio stood at Rs 56,65,025 crore, according to Reserve Bank of India data.
Bankers said while demand for credit from the corporate sector was very weak, that from the retail sector had been steady.
However, growth in deposit mobilisation saw improvement. Year-on-year growth in deposits was 16.1 per cent as of November 29, against 15.4 per cent at the end of October.
Bankers said while demand for credit from the corporate sector was very weak, that from the retail sector had been steady.
However, growth in deposit mobilisation saw improvement. Year-on-year growth in deposits was 16.1 per cent as of November 29, against 15.4 per cent at the end of October.