Flow of credit to the commercial sector from sources other than banks doubled in the first quarter of the current financial year, the Reserve Bank of India (RBI) said in the macroeconomic and monetary development report on Monday. While credit growth was in line with projection, it is expected to fall, the central bank said a day ahead of the first quarter monetary policy review. Bank credit grew by 17.4 per cent in mid-July 2012 from 16.8 per cent at end of March 2012. RBI had projected credit growth of 17 per cent for the current financial year. “Hence, credit growth is in line with the indicative trajectory of 17 per cent for the year. Anecdotal evidence from bankers suggests that there may be some deceleration ahead,” the report said..........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment