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Moneycontrol News
According to the latest report on credit growth published by the Reserve Bank of India (RBI), credit growth for the real economy has grown healthy over the past few years. month.
The growth rate of loans and advances of non-bank financial corporations (NBFCs) over 17 years, from April to June for the quarters and 20.1% for the quarters from July to September, indicates steady growth Global Credit Flow, noted RBI in
However, RK Bakshi, former executive director of Bank of Baroda, observed the following: The RBI figures are accurate, but somewhat dated compared to the NBFC figures.
The expected growth in NBFC credit has slowed since September 2018 and could even have entered negative territory.
He indicated that the NBFCs had sold portfolios to banks and had stopped lending to make sure they did not default on their contributions. Many banks have not lent to builders, real estate sector because of the perceived risks, he added.
According to the RBI report, non-food bank credit, which tracks the flow of financial resources from planned commercial banks to the commercial sector. , increased 15.6% year-over-year in the two weeks ended November 9th and 15.9% year-over-year to October 15th.
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