Bank credit growth slowed down to 5.6 per cent from 6.4 per cent a year ago, according to data published by the Reserve Bank of India (RBI). Combined credit by bank branches in top six centres -- Greater Mumbai, Delhi, Bengaluru, Chennai, Hyderabad and Kolkata -- which together accounted for over 46 per cent of total bank credit declined marginally during 2020-21. Public sector and private sector banks recorded 3.6 per cent and 9.1 per cent credit growth respectively while lending by foreign banks declined during 2020-21. Metropolitan branches which account for over half of total deposits recorded nearly 15 per cent growth. The share of private sector banks in total deposits and credit by scheduled commerical banks increased during 2020-21 at the cost of public sector banks.

Source: Mint May 29, 2021 07:18 UTC