New Delhi: Now more people are taking loans from banks in the country, due to which the bank credit growth has started improving now. Bank credit growth stood at 6.6% in February 2021 as compared to 6.4% in the previous year. Market experts say that this is a sign of recovery in the economy and the economy is now coming out of the influence of Corona.
Bank Credit Growth refers to the lending by banks to companies, businessmen or the general public. That is, the growth credit in the loan increases when there are industrial reforms. Bank credit growth increases the more people take loans from the bank. According to the CARE Ratings report, bank credit growth stood at 6.6% for the fortnight ended February 12, compared to 6.5 to 7.2% at pre-covid time.
According to the CARE Ratings report, the country’s banks disbursed a total of Rs 105 lakh crore in the quarter ended December 31, 2020. At the same time, loans for the same amount were given in the last fortnight on January 29. But in the fortnight ending February 12, the amount of loan disbursement by banks increased to Rs 107 lakh crore. In January 2021, sectors connected with agriculture received 9.5% loans from banks. At the same time, retail segment got 29% of total loan, industrial sector got 29.6% and service sector got 28% loan.