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