Retail, MSME credit shows steady growth in November: RBI report

Reserve Bank of India in a statement said that retail loans continued to expand at a double digit rate

Growth in bank credit, especially to retail, industry, and agriculture remained steady in November, reflecting the effect of economic upturn and festival demand.

In a statement, the Reserve Bank of India (RBI) said that retail loans continued to expand in double digits and recorded a year-on-year (YoY) growth of 11.6 per cent in November, as against the 9.2 per cent growth recorded in November, last year. The growth was driven primarily by consumer durables and vehicle loans.

Credit growth to the industry rose 3.8 per cent in November compared with a 0.7-per cent growth in the corresponding period last year.