Bank credit grows 5.4% in Sept quarter
Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June
PTI | January 3, 2021 | Updated 20:02 IST
RBI on Friday released Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), September 2020
Bank credit growth on a year-on-year basis stood at 5.4 per cent in September quarter of the current fiscal year compared to 5.7 per cent growth in the previous quarter, RBI data showed. Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June.
Bank credit grows at 5.4% in September quarter: RBI
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Last Updated: Jan 01, 2021, 07:01 PM IST
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Synopsis
Personal loans, which accounted for one-fourth of bank credit, continued to maintain double-digit growth during the September quarter.
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Weighted average lending rate (WALR) for outstanding credit declined by 21 basis points during July-September 2020, RBI said.
Mumbai: Bank credit growth on a year-on-year basis stood at 5.4 per cent in September quarter of the current fiscal year compared to 5.7 per cent growth in the previous quarter, RBI data showed. Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June.