Pvt banks top PSBs in total credit share
New Delhi/IBNS: The private banks in the country have disbursed more credit than their state-owned peers in the second quarter ended September 2022, increasing their share to 38.4 percent from 37.5 a year ago, according to an RBI report.
The private lenders’ share in total credit was 29.6 percent five years ago.
Bank credit growth increased year-on-year further to 18 percent in September 2022, against 14 percent in the last quarter and 5.8 percent in the same period a year ago.
The report attributed the credit growth in FY23 to pent-up demand and an uptick in economic activities as the coronavirus situation improved.
Working capital loans by banks grew 16.5 percent (y-o-y) in September 2022, after contracting in March 202, said the RBI.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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