Credit growth slips to decadal low in FY131 min read . Updated: 03 May 2013, 08:33 AM IST
Will the expected rate cuts from the Reserve Bank of India be enough to boost credit growth?
Mumbai: Non-food credit growth slipped to a decadal low of 14% in FY13, below the Reserve Bank of India’s (RBI’s) projection of 16%. Lower disbursements to industry and agriculture weighed on credit growth. Credit to industry slowed to 15.7% in FY13 from over 20% in previous fiscal due to policy hurdles which affected mining, quarrying, petroleum, coal, nuclear fuels and infrastructure sectors. Credit to agriculture sector grew at 8% compared with 13.3% the previous year.
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