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Bank credit growth hits 20-year low

Combined advances by listed public, PSBs up 1.7% in FY17 as public sector lenders shrink loan book

Krishna Kant  |  Mumbai 

Bank credit growth declined to a 20-year low in 2016-17 due to a virtual freeze in new loans by public sector banks. The combined advances of 32 listed public and private sector banks were up just 1.7 per cent, year on year, during 2016-17, growing at their slowest pace since 1995-96. Advances were up 6.8 per cent in 2015-16. Comparable data are not available for individual banks prior to 1995-96 and all data are in rupee terms. Incremental advances were down 73 per cent, year on year, to Rs 1.23 lakh crore (around $19 billion) in 2016-17, the lowest in the last 14 years. ...

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