Loan growth in the services sector accelerated to 9.1 per cent in September 2020 from 7.3 per cent in the same month last year.
“We have already seen the growth as far as our book is concerned. We have seen growth of about 6% till September 30. Hopefully, with the unlocking happening, we should be in a position to reach better than 8%.”
Bank credit grew by 5.06 per cent to Rs 103.39 lakh crore, while deposits rose by 10.12 per cent to Rs 142.92 lakh crore in the fortnight ended October 23, according to the RBI data.
In the fortnight ended October 25, 2019, bank credit had stood at Rs 98.40 lakh crore, and the deposit was Rs 129.78 lakh crore.