Credit growth up 9.2% in Dec 2021 on strong growth in last fortnight of qtr

Banks lent Rs 3.7 trillion in 15 days to December 31, 2021 and outstanding commercial bank credit stood at Rs 116.83 trillion, RBI data showed

Reflecting the surge in business at the end of the quarter, bank credit rose sharply by 9.2 per cent on Year-on-Year (YoY) basis on December 31, 2021. The YoY growth was 6.6 per cent a year ago, according to Reserve Bank of India data.

The credit growth was 7.3 per cent YoY till the previous fortnight ended December 2021.

Banks lent almost Rs 3.7 trillion in the 15-day period ended December 31, 2021 and outstanding commercial bank credit stood at Rs 116.83 trillion, RBI data showed.

Bankers said the upturn in the economy is creating demand in the busy season