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Bank Credit Demand Increases by 5.5. Percent
April 29, 2017
After dropping to the lowest decadal mark at 5.08% in FY17 bank credit demand finally rose by 5.52% in the fortnight to April 14. While it stood at Rs. 76.31 trillion for the fortnight to April 14, it jumped to Rs. 72.31 trillion in the week to April 15, according to the data released by the RBI.
It is worth noting that credit growth in fiscal 2017 was the lowest since fiscal 1954 when it increased by a mere 1.7 percent. The credit demand reduced in FY17 due to increased non-performing assets and few corporate demands. However, with the improvement that’s been observed recently, the future looks promising.
