MUMBAI : The erosion in incremental bank credit since the lockdown began continues unabated, with the decline between 27 March and 22 May at ₹1.76 trillion, showed data from the Reserve Bank of India (RBI).While non-food credit stood at ₹103.2 trillion as on 27 March, it shrunk to ₹101.4 trillion as on 22 May.
To be sure, credit growth is usually tepid in the first quarter of every financial year and incremental credit fell ₹1.68 trillion even between end of March and end of May last year.