Bank credit growth slows to 5.6 pc in March: RBI

Public sector and private sector banks recorded 3.6 per cent and 9.1 per cent credit growth respectively while lending by foreign banks declined during 2020-21.

New Delhi: Bank credit growth slowed down to 5.6 per cent from 6.4 per cent a year ago, according to data published by the Reserve Bank of India (RBI). Combined credit by bank branches in top-six centres -- Greater Mumbai, Delhi, Bengaluru, Chennai, Hyderabad and Kolkata -- which together accounted for over 46 per cent of total bank credit declined marginally during 2020-21.  On the other hand, bank branches in urban, semi-urban and rural areas recorded 9.4 per cent, 14.3 per cent and 14.5 per cent credit growth, according to RBI`s quarterly statistics on deposits and credit of scheduled commercial banks.  Public sector and private sector banks recorded 3.6 per cent and 9.1 per cent credit growth respectively while lending by foreign banks declined during 2020-21.