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Credit growth slows down to 5.14%, shows signs of pickup sequentially

The credit of commercial banks stood at Rs 97.68 trillion as on September 27, 2019

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Bank executives said the increase in activity in the last fortnight of the second quarter was due to a rise in retail credit, some of which was pent-up demand.

Abhijit Lele Mumbai

2 min read Last Updated : Oct 09 2020 | 1:41 AM IST

The bank credit growth (year-on-year basis) slowed further to 5.14 per cent in the fortnight ended September 25, from 5.3 per cent in previous fortnight ended September 11.

However, sequentially the credit showed signs of pick up. According to Reserve Bank of India data, bank credit rose by Rs 44, 210 crore to Rs 102.71 trillion during reporting fortnight (September 25).

The credit had expanded by Rs 13,198 crore in the previous fortnight (September 11, 2020). The credit of commercial banks stood at Rs 97.68 trillion as on September 27, 2019.

Bank executives said the increase in activity in last fortnight of second

Topics : Coronavirus Lockdown bank credit growth RBI Retail credit Indian Economy

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