Banking Sector Check - Industry Credit Growth Improved; Agriculture Growth Continues To Rise: IDBI Capital
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IDBI Capital Report
Credit growth in July month stood at 6.2% YoY, moved out of the range (5.5 – 6.0%) which could improve further in coming months with festive season and pick-up in economic activity.
Credit growth improved as compared to June month (5.9% YoY), led by agriculture and industry credit.
Agriculture credit growth continues to rise at 12.4% YoY versus 11.4% YoY in June 2021.
Industry portfolio growth saw improvement in July month compared to past one year and registered growth of 1% YoY versus down 0.3% YoY in June-21.
This was driven by medium industry and micro and small credit growth as they continues to rise at 71.6% YoY and 7.9% YoY respectively.
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