Offtake in Metropolitan region lifts credit growth in H1FY22: RBI

YoY credit growth of the Metropolitan region, which accounts for over 60% of bank credit, rose from 1.7% this March to 4.6% in September

The rise in credit growth during the current financial year (FY22) has been led by a gradual revival in lending by banks in metropolitan centres, signalling a broad-based economic recovery, said the Reserve Bank of India on Friday.

The year-on-year (YoY) credit growth in the metropolitan region, which accounts for over 60 per cent of bank credit, increased from 1.7 per cent in FY21 (April 2020-March 2021) to 4.6 per cent in 12 months to September 2021. The growth rate was 3.6 per cent in 12 months to September 2020, according to the RBI data, while it was 2.7 per cent