Banks Sectoral Credit Growth Remains Subdued But Steady In November: Prabhudas Lilladher
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Prabudas Lilladher Report
The Reserve Bank of India’s November 2020 sectoral credit data displayed subdued but steadier growth trends at 6% YoY.
Although, growth was better in agriculture at 8.5% YoY and small uptick in retail growth at 10% YoY.
Within retail, housing segment was steady at 8-8.5% YoY growth, while vehicle saw growth of 10% YoY and credit card outstandings grew by 8% YoY.
Services segment growth has been moderating owing to slower growth in non-banking financial companies credit at 8% YoY.
Industry credit growth has been flattish with negative bias, but medium industry has been growing at 20% YoY but has much smaller share
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