Credit grows at over 10% in December

Last year this time credit growth base was low owing to demonetisation

Bank credit growth has exceeded 10 per cent after more than a year, albeit on a low base.

The latest data of the Reserve Bank of India (RBI) showed growth in loans year on year has been 10.83 per cent for the fortnight ended December 22. Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period. 

The data do not necessarily show a significant pickup in credit growth because the country was going through demonetisation a year ago and banks had largely stopped lending.

Capacity utilisation in industry