Retail credit up by Rs 40,853 cr in July over June, MSME loans up slightly

RBI said on YoY basis, non-food bank credit grew 6.7 per cent in July 2020, the same as June 2020, but lower than the growth of 11.4 per cent in July 2019

Building on the traction in June 2020, bank retail loans covering housing, credit cards and vehicle segment grew by Rs 40,853 crore in July 2020, a month when economic activity gathered further momentum. Retail loans had grown by Rs 11,518 crore in June 2020.

Housing loans rose by Rs 11,663 crore, while credit card outstandings were up by Rs 3,805 crore in July 2020. The vehicles segment also saw marginal rise of Rs 3,095 crore in July over June.

The outstanding retail loans book stood at Rs  25,31,234 crore in July 2020, up from Rs 24,90,381 Crore June, according to