Finance
EnglishRBI Cuts Rates, Loans Below 9% Skyrocket to 62.4%!
The Reserve Bank of India (RBI) has made loans more accessible by lowering interest rates, causing the share of loans below 9% to soar from 42.2% to 62.4% in just a year! Public sector banks are on fire with a 14.1% credit growth, while rural branches are stepping up, now holding 40.4% of total credit. Looks like money is getting easier to grab for everyone!
few days ago | Aathira Varier
Quick rundown
1.RBI cuts interest rates, boosting loans below 9%.
2.Public sector banks lead with 14.1% credit growth.
3.Rural and urban branches outpace metropolitan in credit growth.
4.Term deposits grow faster than current and savings deposits.
5.Monetary easing leads to more term deposits under 7% interest.
