Bank Sectoral Credit Update - Credit Growth Declines 5% In March Post Uptick In February: IDBI Capital
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IDBI Capital Report
Post upsurge in February 2021, credit growth in March month saw a decline to 4.9% year-on-year from 6.5% YoY growth in February month (6.7% March 2020), led by services credit growth which hit badly due to second Covid-19 wave.
Agriculture credit growth improvement continues to 12.3% YoY versus 10.2% YoY in February 2021 led by better monsoon across the country, higher minimum support price, and strong kharif and rabi season.
After negative growth from past six months, industry portfolio turned positive in March month at 0.4% versus down 0.2% in February 2021.
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