Bankers See Industrial Recovery By September

Financial institutions and banks are seeing the first signs of an industrial recovery in the non-food credit offtake which has increased in the three consecutive fortnights between July 2 and July 13. This is in contrast to the continuous decline witnessed during the earlier part of the current financial year.

Most bankers say the worst is probably over and a firmer sign of industrial recovery will be visible by September. Some however admit that it is too early to be bullish on the prospects.