Bank Lending To Pvt Corporate Rises 14.9% In Sep, Term Deposits See Big Jump: RBI Data
The share of personal loans in bank credit has successively increased to over 30 per cent from 22 per cent share five years ago. (Representative image)Bank lending to the private corporate sector grew 14.9 per cent in September 2023 from 14.7 per cent a year ago, according to the Reserve Bank data released Friday. Another set of banking data released by the central bank showed the share of term deposits bearing a 6 to 8 per cent interest rate rose to 78.6 per cent in September 2023 against 12.5 per cent in March 2022. According to data on outstanding credit of banks at Septemberend 2023, loans to industry accounted for nearly onefourth of total bank credit; they increased by 8.6 per cent (yearonyear) in September 2023 (against 12.3 per cent a year ago); working capital loans gro...