Gold loans spur personal loans, bank credit slows
The Hindu
Credit to industry shrank in June: RBI
Growth in personal loans quickened to 11.9% in June, from 10.4% a year earlier, primarily due to accelerated growth in ‘loans against gold jewellery’ and ‘vehicle loans’, the Reserve Bank of India (RBI) said in its report on Sectoral Deployment of Bank Credit - June 2021. The data on bank credit was collected from 33 scheduled commercial banks, accounting for about 90% of the total non-food credit deployed by banks for the month of June 2021. On a year-on-year basis, non-food bank credit grew 5.9% last month, slowing from June 2020’s 6.0%, the central bank said.More Related News