Bank credit grows 9.7 per cent in March

Financial institution credit score grew by 9.7 per cent in March this 12 months in comparison with 4.5 per cent a 12 months in the past, on the again of a choose up in credit score to the trade, acceleration in credit score to providers and private mortgage segments, and agriculture displaying almost double-digit credit score progress.

Credit score progress to trade picked as much as 7.1 per cent in March 2022 from a contraction of 0.4 per cent in March 2021, in keeping with RBI’s assertion on Sectoral Deployment of Financial institution Credit score.

Dimension-wise, credit score to medium industries registered a sturdy progress of 71.4 per cent in March 2022 as in comparison with 34.5 per cent final 12 months.

Credit score progress to micro and small industries accelerated to 21.5 per cent from 3.9 per cent and credit score to giant industries recorded a marginal progress of 0.9 per cent towards a contraction of two.5 per cent throughout the identical interval final 12 months.

Credit score progress to the providers sector accelerated to eight.9 per cent in March 2022 as in comparison with 3.0 per cent a 12 months in the past, primarily as a consequence of vital enchancment in credit score progress to NBFCs and sturdy credit score offtake in ‘commerce’ and ‘transport operators’.

The private loans phase continued to broaden at a sturdy charge and grew by 12.4 per cent in March 2022 from 10.7 per cent in March 2021, per the RBI assertion.

Credit score to agriculture and allied actions continued to carry out effectively, registering a progress of 9.9 per cent in March 2022 in comparison with 10.5 per cent in March 2021.

Printed on


April 29, 2022