Bank credit grows 14.88% to Rs 91.11 trillion YoY, reveals RBI data

Many have started buying loan portfolios from NBFCs and HFCs to provide liquidity push

Bank credit growth has been healthy despite 11 public sector banks (PSBs) being placed under the Reserve Bank of India’s prompt corrective action (PCA) framework and recent volatility in the debt markets, which affected the non-banking segment. Bank credit has grown 14.88 per cent to Rs 91.11 trillion for the fortnight ended November 9, the Reserve Bank of India (RBI) data reveals. 

Last year, bank credit stood at Rs 79.3 trillion. Deposits with scheduled banks grew by 9.13 per cent to Rs 118.25 trillion for the fortnight ended November 9, while a year ago they stood at Rs 108.35 trillion. 

A senior