Bank credit growth (y-o-y) decelerated to 11.8 per cent in December 2024 from 12.6 per cent in September 2024;
FinTech BizNews Service
Mumbai, February 21, 2025: Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs)1 - December 20242’ on its ‘Database on Indian Economy’ portal (https://data.rbi.org.in Homepage > Publications). It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, type of account and interest rates based on account-level reporting3. Data reported by SCBs {excluding Regional Rural Banks (RRBs)} are presented for bank groups, population groups4 and states.
Highlights:
Bank credit growth (y-o-y) decelerated to 11.8 per cent in December 2024 from 12.6 per cent in September 2024; all population groups (viz., rural, semi-urban, urban and metropolitan branches of banks) maintained double digit growth, though with some moderation, which was experienced by both public sector and private sector banks.
Personal loans, which have large share (31.5 per cent) in total credit, recorded moderation in annual growth to 13.7 per cent (15.2 per cent a quarter ago); credit to agriculture and industry sectors also recorded some tempering in the growth.
Bank lending for trade, finance and professional/ other services accelerated during Q3:2024-25.
Lending to public sector organisations accelerated to 5.4 per cent in December 2024 as compared with 0.3 per cent in the previous quarter; its share in total credit stood at 13.6 per cent.
Nearly two per cent of the bank loans were in terms of bills purchased/ discounted.
Bank charged 8 per cent to less than 10 per cent interest rate on over half of the loan amount and nearly 16 per cent of the loans were bearing less than 8 per cent interest rate; the remaining loans were bearing 10 per cent or above interest rate.
