Economic upturn lifts credit boat in all segments in December: RBI data

Services sector shows traction on rise in loan to finance firms

Robust economic upturn accelerated the pace of growth in bank credit across agriculture, industry, retail and services in December 2021 over the same month last year and November 2021.

Reserve Bank of India data showed the credit growth to industry improved noticeably to 7.6 per cent, year on year in December 2021 from 0.4 per cent in December 2020 and 3.8 per cent in November 2021. Size wise, credit to medium industries showed high growth of 86.5 per cent YoY basis in December 2021as against 17.1 per cent in December 2020 and 48.7 per cent in November 2021.

Credit growth