Retail credit getting traction, but may remain below pre-Covid levels

According to the RBI data, in the pre-pandemic phase in 2019-20, year-on-year growth in retail credit was 16.6 per cent in June 2019

Bank retail credit will see an uptick from the second quarter, riding on the gradual easing of lockdowns and increase in economic activity.
 
However, the pace will remain below the growth rates seen in the pre-pandemic period. Also, the third wave remains a big risk that may dampen activity, bankers said.
 
According to the Reserve Bank of India data, in the pre-pandemic phase in 2019-20, year-on-year growth in retail credit was 16.6 per cent in June 2019 (home loans in the neighbourhood of 18 per cent; credit card 27 per cent; and other personal loans at 23 per