Credit growth inches up to 5.66% in October amid increased activity: RBI

With the unlocking process on course, festival season is expected to lead to further rise in demand for credit

The bank credit growth on a year-on-year basis inched up to 5.66 per cent in the fortnight ended October 9 from 5.14 per cent in the previous fortnight. The rise in commercial banks' credit growth is in sync with the elevated business activity at the end of the second quarter. Sequentially, credit showed some signs of a pick-up, according to the Reserve Bank of India (RBI). 

RBI data showed that bank credit rose by Rs 72,357 crore to Rs 103.43 trillion in the October 9 fortnight after expanding by Rs 44,210 crore in the previous fortnight. The credit of commercial