Boom in Bank Credit Sparks Economic Growth
Bank credit to industry saw a 15% growth in March due to increased advances to large companies, according to the RBI. Non-food bank credit grew by 15.9% year-on-year, with robust expansions in micro, small, and medium industries. Credit to agriculture, services, and personal loans also registered significant growth.
Bank credit to industry recorded an impressive growth of 15% in March, spurred by increased advances to large firms, the Reserve Bank of India (RBI) reported on Thursday.
The central bank's data, sourced from 41 select banks accounting for 95% of non-food credit by all scheduled commercial banks, highlighted a year-on-year growth of 15.9% in non-food bank credit as of March 31, 2026. This marks a significant increase from the 10.9% growth witnessed in the same period last year.
Furthermore, credit to agriculture, services, and personal loans also saw notable growth, with expansions evident in sectors like infrastructure, engineering, and various industrial segments. Credit to micro, small, and medium-sized industries remained robust, signaling a positive economic trajectory.
(With inputs from agencies.)
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