BackBanks’ loan growth subdued at 16.5% y-o-y in May: RBI
Banks’ loan growth subdued at 16.5% y-o-y in May: RBI
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Mumbai: Banks’ non-food credit growth slowed to 16.5% in May, compared with 21.9% in the year ago period, the Reserve Bank of India said on Friday.
The growth in credit to industry, services, non-banking financial institutions, as well as personal loans, also declined in May.
The only sector that showed an increase was agriculture, where credit growth was 14.6%, compared with 12.8% a year ago, the data showed.
In the month to 15 June, loan growth remained sluggish, growing only 1.4%, reflecting poor business sentiment, the RBI data had shown on Wednesday.
However, in the fortnight ending 15 June, bank loans were up 17.8% from a year earlier, the RBI’s weekly statistical supplement showed on Friday.
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