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.
The share of personal loans in bank credit has successively increased to over 30 per cent from 22 per cent share five years ago, it said, adding that the share of female borrowers in total bank credit as well as in loans to individuals has been rising in the recent period.
