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Non-food loan growth pace decelerates to 7.3% in February 2020 from 13.2%

Bankers said the tepid credit off-take was reflection of elongated economic slowdown and demand

Non-food loan growth pace dips to 7.3% in February 2020
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Abhijit Lele Mumbai
The pace of non-food credit dispensed by Indian banks decelerated to 7.3 per cent in February, from 13.2 per cent in the year-ago period.
 
The slump in credit was evident across industry, agriculture, and the services sector. However, the retail loans segment was an exception, with slight acceleration to 17 per cent in February 2020 as against 16.7 per cent in February last year, according to RBI data.
 
Bankers said the tepid credit off-take was a reflection of the prolonged economic slowdown. The lockdown has led to severe disruption, adversely impacting loan demand further, in March 2020. Normally, growth in

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First Published: Mar 31 2020 | 11:02 PM IST

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