Festive season helps bank credit grow by 8.2% YoY, shows data

Showing a steady rise in demand for credit, bank loans rose 8.2 per cent year- on-year (YoY) at the end of the fortnight January 28, 2022. 

In the previous fortnight (January 14, 2022) it was 8 per cent YoY, according to Reserve Bank of India data. The pace of credit has gathered in the last four months in tandem with the economic upturn and the festive season. 

At the start of the second half of FY22, the credit growth was 6.5 per cent YoY (October 08, 2021). According to RBI’s bank lending survey, bankers showed high optimism on loan demand from all major sectors in the fourth quarter ending March, 2022 (Q4, FY22).