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Industrial credit growth slips to a 12-month low of 7% in February

The slowdown in industrial credit was much sharper than the slowdown in overall non-food credit, which continued to grow in double digits at 15.9 per cent YoY in February

Rupee, economy, inr, India
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Krishna Kant Mumbai

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The sharp recovery in industrial credit from banks in the first half of financial year 2022-23 (FY23) appears to have tapered off, as year-on-year growth declined to a 12-month low of 7 per cent in February, according to Reserve Bank of India data.

For comparison, industrial credit grew at a decadal high of 13.6 per cent YoY in October. The growth in the first half of FY23 had raised hopes of a revival in private sector capital expenditure, which had been in the slow lane for nearly a decade.

The slowdown in industrial credit was much sharper than the slowdown

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First Published: Apr 25 2023 | 11:21 PM IST

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