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Banks step up lending in September as the economy opens up: RBI data

Growth in credit to industry had grown 2.7 per cent YoY in September 2019

debt restructuring, Banks, lending, lenders, RBI,

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2 min read Last Updated : Oct 31 2020 | 1:17 AM IST

Credit growth to industry was 'nil' in September, but banks stepped up lending to micro, small and medium enterprises, while depending largely upon services for their loan book growth, according to the data released by the Reserve Bank of India (RBI).

Growth in credit to industry had grown 2.7 per cent YoY in September 2019. Credit to ‘medium’ enterprises expanded by 14.5 per cent.

State Bank of India (SBI) Group Chief Economic Advisor Soumya Kanti Ghosh said on a month-on-month basis, September actually saw a huge amount of credit activity by banks.

“Credit in September was

Topics : credit growth RBI lending

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