Credit Growth Is Chugging Along
The growth in bank credit offtake has been fuelled by the merger between HDFC Bank and HDFC.
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Retail, NBFCs drive credit offtake in FY23
India's gross bank credit off-take rose 15% in FY23 to ₹136.8 lakh crore. The growth was led by sectors such as NBFCs, personal loan and services segments.
What gets missed in India’s growth indicators
Closer reading of numbers show claim of economic boom is misplaced
Bank credit growth slows to 16.8% in Dec quarter: RBI
Growth in credit was led by bank branches in metropolitan centres, says RBI.
Budget 2023: Credit Growth Signals Economic Activity
Incremental growth in FY22 over FY21 was ₹9.41 lakh crore.
Economic Survey 2022-23: Credit growth likely to be brisk in FY24
Credit to MSMEs has seen a significant increase in part assisted by the introduction of the Emergency Credit Line Guarantee Scheme (ECLGS), says Economic Survey.
Indian economy resilient despite hostile challenges: Shaktikanta Das
India is a bright spot in an otherwise gloomy world; inflation remains elevated but breather in Nov, Dec, says Das.
Bank lending at 11-year high, bad debts lowest in 7 yrs: RBI
The RBI says the gross NPA ratio of the scheduled commercial banks continued to decline and stood at a seven-year low of 5% in September 2022.
India’s CAD widens to record 4.4% of GDP in Q2 FY23
RBI says $30.4 bn worth of foreign exchange reserves were depleted in Q2 vs an accretion of $31.2 bn a year before. FDI inflows at $20 bn in H1 marginally declined from $20.3 billion a year before.
Bank Credit in a Sweet Spot
As credit offtake improves due to growing corporate interest and optimism around GDP growth, the banking sector is set to reap the riches.
