With fresh investments by the corporate sector not taking off in a big way and demand for loans remaining lacklustre, bank credit to industries has seen a moderation in growth over the past few months.
In November 2023, bank loans to industries, which consist of micro and small, medium, and large segments, registered a lower year-on-year (y-o-y) growth of 6.6 per cent to Rs 36 lakh crore as compared to a growth of 13 per cent (Rs 33.77 lakh crore) in the same month of last year, according to the Reserve Bank of India (RBI) data. On the other hand, the central bank has reported an overall non-food credit growth of 20.8 per cent as of November, aided by the 30.1 per cent growth in personal loans.
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