Bank credit grew by 13.2% in the financial year 2018-19 as compared to 10.3% in the previous financial year, mainly aided by loans to services and retail sector. Deposit growth also gained momentum, growing by 10% as compared to 6.7% a year ago.
- The Reserve Bank of India’s data on the deployment of gross credit across different sectors shows healthy credit growth in the services sector followed by retail sector.
- Credit growth in services sector till the middle of February was 23.7% and in retail sector it was 16.7%. Credit growth in the industry sector was 5.6%.
Source- The Hindu