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Anand Rathi Report
The sector-specific credit growth trend in July 2020 presents a mixed bag.
In line with the emphasis of the government, credit conditions have improved for agriculture and infrastructure (particularly power and roads).
Some of the most pandemic impacted sectors such as auto and hospitality also registered improvements.
In contrast, year to date incremental credit remains negative and credit growth is negative for micro small and medium enterprises (MSME).
While credit to non banking financial companies was high in FY20 (leading to high YoY growth), in year to date incremental terms, the flows have turned negative in FY21.
Risk aversion continues to be the focus of credit extension by banks.
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