Categories: Business

Share of industrial credit in total bank credit declined to 31.5 percent

Photo: GOOGLE

RBI

new Delhi. There has been a decline in the industry's share in the total loans disbursed by banks. According to data released by the Reserve Bank, the share of industrial debt in total disbursed loans fell to 31.5 percent in the month of March. The share was at 33.1 percent during March a year ago. The rate of credit growth of banks has seen a year-on-year decline and in March 2020 this rate was 6.3 percent. However, the situation in the rural areas was better and bank branches in rural areas registered a growth of more than 10 percent in loan growth.

According to Reserve Bank data on loans disbursed by all listed commercial banks for March 2020, "The share of industrial credit in total bank credit declined to 31.5 percent in March 2010, from 33.1 percent a year earlier. It grew at a modest 0.9 percent year-on-year in March 2020. "These figures from the Reserve Bank are based on information received from 1,24,984 bank branches across the country. The data shows that overall credit growth is supported by a solid growth of personal loans. The share of the individual category in total debt rose to 40.1 percent in March 2020. The share was 37.4 percent a year ago and 30.8 percent five years ago. The data said that the number of women borrowers in the personal loan segment continued to rise.

This post was published on July 16, 2020 3:41 am

Content Team

Recent Posts

Microsoft in talk to invest $ 100 million in sharechat

Photo: MICROSOFT Microsoft in talk to invest $ 100 million in sharechat new Delhi. Microsoft can invest about $ 100…

uco bank cuts MCLR, IOB cuts base rate

Photo: PTI Uco Bank new Delhi. Today, two public sector banks have lowered their lending rates. UCO Bank has cut…

DoT set to allow contact less verification for mobile customers

Photo: GOOGLE DoT set to allow contact less verification for mobile customers new Delhi. In the midst of the Corona…