Finance
EnglishBank Credit Dances Up 16.2% Amid Global Uncertainty Bash
Bank credit is strutting its stuff, growing a dazzling 16.2% year-on-year to Rs 211.87 trillion as of May 15! While deposits lagged behind, lending to services and non-banking financial companies is booming, especially gold loans, which are shining brighter than a disco ball. It's a credit celebration, and everyone's joining the fun!
few days ago | Aathira Varier
Quick rundown
1.Bank credit in India grew 16.2% YoY despite geopolitical uncertainties.
2.Loans expanded faster than deposits, with a 400 basis points gap.
3.Credit to NBFCs surged 27.7% YoY, a significant jump from last year.
4.Gold loans drove retail loan growth, skyrocketing over 120%.
5.Industrial credit growth doubled, highlighting robust lending across segments.
