Bank credit growth slows to 11% from over 20% in year

Bank credit growth has slowed to 11.1% as of Nov 15, 2024, compared to 20.6% the previous year. Deposit growth also decreased, with banking system deposits rising by only 6.7% since March. Banks are liquidating govt bonds due to slower deposit growth. Retail lending and NBFC loans have similarly declined.

Dec 4, 2024 - 07:00

Bank credit growth slows to 11% from over 20% in year

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Bank credit growth has slowed to 11.1% as of Nov 15, 2024, compared to 20.6% the previous year. Deposit growth also decreased, with banking system deposits rising by only 6.7% since March. Banks are liquidating govt bonds due to slower deposit growth. Retail lending and NBFC loans have similarly declined.