Login With Google
Credit growth
Why is it in the news ?
- As per RBI data, credit growth is showing some signs of pickup during the festival season.
More in the news
- According to latest data from the Reserve Bank of India (RBI):
(1) Bank credit growth was in positive territory on year-to-date basis, after several fortnights.
(2) Banks extending loans worth just over ₹1 lakh crore in the last three fortnights.
(3) On year-on-year basis, credit growth is still in single digit, at 8.8%.
- Loans to NBFCs:
(1) Loans have been extended to non-banking finance companies and retail borrowers, like home buyers and farmers.
(2) Banks have tied up with several non-banking finance companies also for loan coorigination to extend credit facilities to the MSMEs.
(3) This helped banks reach last mile customers of NBFCs.
Source
The Hindu.