How demonetisation crippled bank lending4 min read 06 Jun 2017, 07:48 AM IST
Bank loans to rural India were the most affected, but other parts of the country also saw a deceleration in credit growth, RBI data shows
It is, of course, well known that the growth of bank credit slowed in the second half of 2016-17 due to demonetisation. Reserve Bank of India (RBI) data shows that as on 30 September 2016, the annual rate of growth of bank credit was 12.1%. That year-on-year growth rate decelerated sharply to 5.4% by 31 March 2017. It indicates the banking system is yet to recover from the after-effects of the note ban.
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