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CARE Ratings Report
The year-on-year bank credit grew by 180 basis points from the year-ago level of 5.1% (fortnight ended October 23, 2020) and 40 basis points from the previous fortnight.
The increase (year-on-year) reflects the low base effect, festival season spending, and the easing of lockdown restrictions across regions in India.
In absolute terms, credit offtake increased by Rs 7.1 lakh crore over the last twelve months and by Rs 0.3 lakh crore as compared with the previous fortnight.
Amid the second wave of the pandemic, the bank credit growth has remained tepid owing to the risk aversion by both lenders and borrowers and regional lockdowns imposed by states in the earlier part of this year to curb the spread of coronavirus.
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