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Bank credit growth
Why is it in the news?
- As per the latest data released by Reserve Bank of India (RBI), banks’ credit growth slipped to 6.4% on year-on-year basis till the fortnight ended February 14.
More in the news
- Loan growth failed to maintain the momentum of the previous fortnight when it grew by ₹98,926 crore (for the fortnight ended January 31).
- There was a contraction of ₹64,490 crore during the fortnight ended February 14.
- Year-on-year loan growth till the previous fortnight was 7.1%.
- Year-on-year growth in deposits also moderated for the reporting fortnight to 9.2% as compared to 9.9% recorded at the end of the previous fortnight, according to the data.
Source
The Hindu