Bank lending to pvt corporate rises 14.9 pc in Sep: 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 September-end 2023, loans to industry accounted for nearly one-fourth of total bank credit; they increased by 8.6 per cent (year-on-year) 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.