Credit grows to early-pandemic levels: CARE Ratings
ECONOMY & POLICY

Credit grows to early-pandemic levels: CARE Ratings

The bank credit growth has increased and returned to the levels observed in the early months of the pandemic (the bank credit growth ranged between 6.5% to 7.2% during April 2020). The bank credit growth rose as compared with the previous fortnight ended 29 January 2021, which can be ascribed to an increase in retail loans further led by falling weighted average lending rates (8.2% in January 2021 v/s 9.5% in January 2020). Moreover, on y-o--y basis, the credit growth remained marginally higher in comparison to the same period last year (6.4% growth during the fortnight ended 14 February 2020). However, slower to declining growth in large industries, the housing sector and NBFCs which accounts for around 27.0%, 14.0% and 7.0% respectively, of the gross bank credit restricted the increase in bank credit growth during the period under review.

Read the full CARE report on growth rate in deposits and credit here.

The bank credit growth has increased and returned to the levels observed in the early months of the pandemic (the bank credit growth ranged between 6.5% to 7.2% during April 2020). The bank credit growth rose as compared with the previous fortnight ended 29 January 2021, which can be ascribed to an increase in retail loans further led by falling weighted average lending rates (8.2% in January 2021 v/s 9.5% in January 2020). Moreover, on y-o--y basis, the credit growth remained marginally higher in comparison to the same period last year (6.4% growth during the fortnight ended 14 February 2020). However, slower to declining growth in large industries, the housing sector and NBFCs which accounts for around 27.0%, 14.0% and 7.0% respectively, of the gross bank credit restricted the increase in bank credit growth during the period under review. Read the full CARE report on growth rate in deposits and credit here.

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?