Growth in lending in the banking sector after the opening of the economy
MUMBAI: At the end of October, the country's total lending grew by 6.5 per cent year-on-year to Rs 110.60 trillion. Lending growth is higher compared to the same period last year, while the current year's figure is lower than the 4.50 per cent seen in October 2016, according to RBI data. The last 6 months of the financial year usually start from October and also the busy season for corporates, business houses and retail segments. India's economy is in a growth phase as the economy opens up after the lockdown on the second wave of the Corona in April 2011 eased, Care Ratings said in a report. Demand for credit will also remain high as a result of the recovery in the economy and overall credit growth is expected to be 8 to 10 per cent by the end of the current financial year. The current year has seen mixed growth in key banking indicators. Growth in deposits has slowed. As of the first week of October, deposits had increased by 10.15 per cent year-on-year to Rs 13.5 cro...