Bank Lending To Pvt Corporate Rises 14.9% In Sep, Term Deposits See Big Jump: RBI Data

Bank lending to the private corporate sector grew 14.9 per cent in September 2023 from 14.7 per cent a year ago, according to the Reserve Bank data released Friday. Another set of banking data released by the central bank showed the share of term deposits bearing a 6 to 8 per cent interest rate rose to 78.6 per cent in September 2023 against 12.5 per cent in March 2022. According to data on outstanding credit of banks at Septemberend 2023, loans to industry accounted for nearly onefourth of total bank credit; they increased by 8.6 per cent (yearonyear) in September 2023 (against 12.3 per cent a year ago); working capital loans growth has remained in double digits for the last six quarters. "Bank lending to the private corporate sector recorded robust growth and accelerated to 14.9 per cent (yearonyear) in September 2023 from 11.5 per cent a quarter ago and 14.7 per cent a year ago," the RBI said.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.