Bank Credit Growth Rose To 17.2% In July-September: RBI

Bank branches in metropolitan centres have been recording higher annual growth than those in rural, semi-urban, and urban areas since December 2020, RBI said in the report.

Bank credit growth increased to 17.2 per cent in the September quarter as against 7 per cent in the year-ago period, the Reserve Bank of India (RBI) said today.

It stood at 14.2 per cent at the end of June quarter of this financial year.

Credit growth remained broad-based as all population groups and bank groups recorded double-digit annual growth, the central bank said.

According to the quarterly statistics on deposits and credit of scheduled commercial banks (SCBs), aggregate deposit growth was at 9.8 per cent in September 2022.