Banks’ credit growth slipped to 6.4% on year-on-year basis till the fortnight ended February 14, latest data released by Reserve Bank of India (RBI) showed.
Loan growth failed to maintain the momentum of the previous fortnight when it grew by ₹98,926 crore (for the fortnight ended January 31).
There was a contraction of ₹64,490 crore during the fortnight ended February 14.
Year-on-year loan growth till the previous fortnight was 7.1%.
Year-on-year growth in deposits also moderated for the reporting fortnight to 9.2% as compared to 9.9% recorded at the end of the previous fortnight, according to the data.
