Banks' credit growth slips to 19 per cent

Reflecting economic slowdown, banks credit growth came down to over 19 per cent in the last quarter of 2008-09 against around 23 per cent a year ago. However, credit growth by nationalised banks, which account for over half of the total bank loans, came down only marginally to 24.7 per cent during the period from 25 per cent a year earlier, according to RBI’s quarterly statistics.

SBI and its associates saw an increase in credit growth to 21 per cent from 20.7 pc a year ago. This category accounted for 23.1 pc of total bank credit during January to March 2009.

Credit growth by foreign banks, saw massive reduction in their credit growth rates.

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