Rating agency Icra, in a note, had said it expected banks to hike deposit rates in the near term, as incremental credit has outpaced deposits over the last quarter
The base figures are getting revised due to the demonetisation drive and that is where you are seeing the growth, said SBI's P K Gutpa
The year-on-year bank credit growth as of September 15 stood lower at 7.5%
Some industries saw a more than proportionate rise in loan funds, claimed the report
One-third of this massive contraction was led by just 10 companies
However, loan growth had marginally risen to 5.52% in the fortnight to April 14 to Rs 76.31 trillion
Full-blown economic recovery depends on the reversal of the secular decline in credit growth
Saddled with high bad debt and weak corporate demand, credit growth plunged to a six-decade low
Some parties said demonetisation did not have positive impact on credit growth
Historically, overall credit has grown at 1.6 times GDP growth
Credit growth was 11.2% in the year-ago period and has now touched 5%
Credit grew 11.6 per cent year on year from 9 per cent in October