News dalla rete ITA

1 Giugno 2023

India

INDIAN BANKS’ NON-FOOD CREDIT RISES TO OVER EURO 1.5 TRILLION

Scheduled commercial banks’ non-food credit grew 16.1% year-on-year (YoY) to Euro 1.5 trillion in April, sectoral credit data released by the Reserve Bank of India. It is higher than 15.4% on-year growth registered in March. Credit to agriculture and allied activities rose 16.7% YoY to Euro 195 billion while credit to industry segment rose 7% YoY to Euro 382 billion. Banks’ credit to services sector grew at the fastest pace, at 21.6% YoY to Euro 382 billion. Among the services sector, credit to non-banking finance companies grew sharply, at 29.2% YoY to  Euro 152 billion. The overall non- food credit growth is higher than analyst estimates. According to a recent SBI Research report, banks are likely to witness a 12%-13% YoY growth in their overall advances in FY24, compared with 15%-16% credit growth in FY23. (ICE NEW DELHI)


Fonte notizia: The Financial Express