Key Highlights: 

  • Bank credit growth at Rs 69.45 lakh crore in July 2017
  • Personal loans remain at double-digit growth of 15% in the same month
  • Housing loan is expected to boost banks credit demand in future ahead

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All Scheduled Commercial Banks' (SCBs) credit growth continues to remain at historic lows. Recent data compiled by the Reserve Bank of India showed this gross lending by banks stood at over Rs 69.45 lakh crore in July 2017 – recording growth of just 4.7% year-on-year (YoY) basis.

In the same month of previous year – SCBs gross lending was at Rs 66.32 lakh crore but the growth was higher at 7.7% yoy.

Interestingly, data compiled by State Bank of India indicated that between April 2017 – till August 2017, bank credit growth tumbled by over Rs 1.37 lakh crore down 1.8% as against the similar period of the previous year.

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