Notwithstanding incremental credit growth plunging to a 59-year low at 5.56 per cent in FY21, the bank credit-to-GDP ratio rose to a five-year high of a little over 56 per cent in 2020, according to the latest data from the Bank for International Settlements (BIS).
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At a 56.075 per cent credit-to-GDP ratio, total outstanding bank credit stood at USD 1.52 trillion in the country in 2020, according to the BIS data for the year, but this is still the second-lowest among all its Asian peers. And when it comes to the emerging market peers, it is 135.5 per cent and at 88.7 per cent in advanced economies. Bank credit growth is a key indicator of economic growth & credit-GDP ratio of 100% ideal
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