RBI Data: Relief for banks, loan growth reaches 3-year high

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RBI Data: Relief for banks, loan growth reaches 3-year high
RBI Data: Relief for banks, loan growth reaches 3-year high

Data from the Reserve Bank of India has revealed that in the fortnight ended June 3, 2022, the credit of banks has increased by 13.1 percent as compared to the same period last year. That is why this is good news for the banking sector.

Credit growth of banks has reached a 3-year high. This has been revealed from the recently released data by the Reserve Bank of India (RBI). According to this, in the fortnight ended June 3, 2022, the credit of banks has increased by 13.1 percent as compared to the same period (YoY) last year. Last year, the growth rate of bank loans was just 5.7 percent. Banks also mainly depend on the interest received from the loan. Therefore, this figure is a relief for banks.

According to the data of the central bank, in the fortnight ended June 3, 2022, banks gave loans of Rs 1.02 lakh crore. With this, the total loan given by banks has increased to Rs 121.40 lakh crore. In a program last Friday, Reserve Bank Governor Shaktikanta Das had said, “We are seeing satisfactory credit ie credit offtake. According to the latest figures, it is around 12 per cent annually. Last year, the credit growth around this time was 5-6 per cent.”

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