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  1. Non-food bank credit growth slows to 7.08%

Non-food bank credit growth slows to 7.08%

Banks are likely to receive their dues related to farm loan waivers from the state governments by the end of September or latest by early October, two bankers with direct knowledge of the development said.

By: | Published: September 1, 2017 3:58 AM
Non food bank credit, Fornight, RBI, Non food bank credit Growth in the non-food bank credit slowed to 7.08% year-on-year (y-o-y) during the fortnight ended August 18 from a five-month high of 7.42% in the previous fortnight.(Image: IE)

Growth in the non-food bank credit slowed to 7.08% year-on-year (y-o-y) during the fortnight ended August 18 from a five-month high of 7.42% in the previous fortnight. The corresponding figure in the year-ago period was 9.3%. According to provisional data released by the Reserve Bank of India (RBI), outstanding loans to companies and individuals fell to Rs 76.5 lakh crore, from Rs 76.74 lakh crore a fortnight ago. The net corporate bonds outstanding at the end of June was Rs 24.81 lakh crore, up 20% from Rs 20.63 lakh crore in June 2016, as per data released by Sebi. Data from RBI showed that the net outstanding on CPs stood at Rs 3.25 lakh crore as of July 31, down from Rs 3.81 lakh crore in the previous year.

Taken together with the outstandings on corporate bonds and CPs, the total outstanding credit in the system adds up to at least Rs 104.56 lakh crore, up 9% from Rs 95.88 lakh crore in the comparable period last year.  Total bank credit rose 6.3% y-o-y to `77.04 lakh crore, as against a 6.65% growth in the previous fortnight and 9.17% in the year-ago period.

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