MUMBAI : Non-food credit growth of commercial banks grew 7% in the fortnight ended 10 April to ₹102.85 trillion, data from the Reserve Bank of India (RBI) shows.
The RBI on 27 March had slashed the repo rate by 75 bps to stimulate growth, following which, banks lowered their lending rates and deposit rates.
This is an improvement from the 6% credit growth seen in the previous fortnight or the fortnight ended 27 March. Credit growth has been slackening for the last several quarters and is expected to go further south as the covid-19 pandemic disrupts credit disbursals.
However, lenders, mostly from the public sector, are trying to push their covid-19 emergency credit lines to borrowers. Mint reported on 26 April that branch-level officials