Bank credit grows 15.5% YoY
News: Bank credit grew 15.5% YoY to Rs 124.57 lakh crore and deposits by 9.5% YoY to Rs 169.94 lakh crore in the fortnight ended August 26, 2022. Last year during same period bank credit grew 6.7% YoY and deposits growth was same at 9.5% YoY. In the fortnight ended August 12, 2022, bank credit grew 15.3% (YoY) to Rs 124.31 lakh crore and deposits by 8.8% (YoY) to Rs 169.49 lakh crore.
View: Overall bank credit growth continued to be driven by the retail segment. Credit growth in the industry segment has also seen an uptick. Continued growth in credit remains positive for the sector. A pick-up in corporate credit demand is expected to sustain healthy business traction, going ahead.