Industry’s share in bank credit shrinks to 23%: RBI
Tuesday, 30 April 2024 () Bank loans to the services and agriculture sectors were the primary contributors to the 20% increase in credit growth in FY24. Both sectors experienced growth of over 20%, as reported by the RBI. Although the rate of credit growth towards large industries more than doubled in FY24 (7%) compared to the previous year (3.1%), it still remained slow, leading to a continued decrease in market share.
RBI's action against Paytm and Kotak Mahindra Bank for non-compliance raised concerns. Kotak Mahindra's failure to meet data storage requirements led to RBI directives. Similar actions were taken..
Tuesday, 30 April 2024 ()
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