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Credit offtake outstrips deposit growth

While deposit growth till the fortnight ended November 10 was 8.1%, credit grew at 8.6%

Credit offtake outstrips deposit growth
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Advait Rao Palepu Mumbai
In the fifth bi-monthly monetary policy conference, Reserve Bank of India (RBI) Governor Urjit Patel said that the recent data concerning flows of financial resources suggests that the Indian economy was beginning to see credit growth.
 
After more than a year, in November, the credit growth rate outpaced the pace of deposit growth. While deposit growth as of the fortnight ended November 10 was 8.1 per cent, credit grew at 8.6 per cent.
 
Credit growth was below five per cent in February this year. However, it’s unlikely it was led by the corporate sector because a slowdown in

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