Credit growth in the country continues to be behind deposit growth. The Reserve Bank of India's data released on Wednesday shows credit grew by 14.85 per cent year-on-year (y-o-y) as on January 10. On a y-o-y basis it stood at 15.56 per cent in the same period.
On a fortnight basis ending on January the credit grew by 0.59 per cent, while deposits recorded a growth of 0.63 per cent.
The monetary transmission in the system has been slower because banks have been reluctant to hike lending rate much due to slow credit pick-up.
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