Non-food credit growth at four-year high

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Mumbai | Updated: October 25, 2018 2:56:13 AM

Growth in non-food bank credit, at 14.5% year-on-year in the fortnight to October 12, was the highest in more than four years.

Non-food credit growth, domestic debt market, banking systemThe last time non-food credit grew at a similar rate was in July 2014 when it had registered a growth of 14.7%.

Growth in non-food bank credit, at 14.5% year-on-year in the fortnight to October 12, was the highest in more than four years. With an exception for the fortnight ended September 28, non-food bank credit has otherwise seen a steady rise since late July, suggesting the pressure on domestic debt market was prompting borrowers to pick up funds from the banking system.

The last time non-food credit grew at a similar rate was in July 2014 when it had registered a growth of 14.7%. In the fortnight to September 28, loans to companies and individuals had dropped slightly to 12.6% y-o-y.

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