Bank Credit Deployment Update: Retail, Agriculture Sectors Continue To Drive Growth In June: CARE Ratings
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CARE Ratings Research Report
The gross bank credit growth came in lower by 40 basis points at 5.8% in June 2021 as compared to a growth of 6.2% in June 2020, while non-food credit growth stood at 5.9% YoY as compared with a growth of 6.0% in June 2020.
The non-food credit growth registered a marginal fall of 10 bps (YoY) in June 2021, while month-on-month trend remain flat due to the continued impact of second wave.
The first quarter of a financial year generally witnesses moderate growth.
The overall bank credit growth continues to remain modest as compared with the period before pandemic, mainly due to risk aversion and parking of excess liquidity with Reserve Bank of India.
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