 "Credit offtake outstrips deposit growth")
Credit growth in the banking system was at a multi-year high of 16.2 per cent year-on-year (YoY), for the fortnight ended September 9, the latest data released by the Reserve Bank of India (RBI) showed. Last time, credit growth touched 16 per cent was in November 2013.
In the current financial year, so far, banks have extended over Rs 6.5 trillion in loans, showing YoY growth of 5.5 per cent. Over the same period last year, there was a decline of 0.3 decline YoY. Analysts expect credit demand to remain robust because of the ongoing festive season, though liquidity in
