January credit growth slows as loans to services dip by more than half the rate previous year

Credit growth to the services sector decelerated to 8.9 per cent in January 2020 from 23.9 per cent in January 2019, according to the data released in Reserve Bank’s monthly bulletin. Retail loans, which still remained the fastest growing segment, grew by 16.9 per cent in January 2020, the same rate as in January 2019.

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