Agri, retail, MSME credit growth speeds up in July, shows uptick in economy

Retail loans clocked a growth of 11.2 per cent in July 2021 as compared to 9.0 per cent a year ago

The pace of lending to Agriculture, Retail and Micro, Small and Medium Enterprises (MSMEs) gathered pace in July 2021 over the same month in 2020, reflecting gradual uptick in business activity and demand in the economy.

However, the growth, on Year-on-Year (Y-o-Y) basis, in gross bank credit on July 21 at 6.1 per cent was still lower than 6.5 per cent a year ago, according to the Reserve Bank of India. Credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 12.4 per cent in July 2021 as compared to 5.4 per cent in July 2020.

Retail