FY22 credit growth turns positive first-time ever

What stands out this time around is that positive growth happened despite a more debilitating impact of the second wave of the Covid-19 pandemic

Credit growth turned positive year-to-date (YTD) at 0.1 per cent in September for the first time in 2021-22 (FY22), reflecting gradual pick-up in demand.
 
According to the Reserve Bank of India (RBI) data, bank lending rose Rs 7,283 crore till September 24, against a contraction of 1 per cent (or Rs 99,280 crore) on a YTD basis in the same period last fiscal year (2020-21). Outstanding bank credit stood at Rs 109.56 trillion as on September 24.
 
What stands out this time around is that positive growth happened despite a more debilitating impact of the second wave of the Covid-19