- As per the report, there is a negative credit (loan) growth for India’s industrial sector for FY 2021. The negative growth is due to the pandemic COVID-19.
- The report mentioned continuous growth in personal loans and the growth was 13.5% in March 2021 (Y-o-Y).
- There was a contraction of working capital loans in the form of cash credit, overdraft and demand loans in FY21.
- The working capital loans were one-third of total credit.
- The credit in the household sector increased by 10.9% (Y-o-Y). it was observed that the total credit increased from 49.8% in March 2020 to 52.6% in March 2021.
- The credit in the private corporate sector reduced and its share in the total credit was 28.3%.
- Also, the loan growth was recorded higher in the case of private banks in comparison to other bank groups.
- The Weighted Average Lending Rate (WALR) on outstanding credit reduced by 21 basis points in Q4 FY21 and was moderated by 91 basis points in FY21.
- Static Part:
- HQ of RBI: Mumbai
- Governor of RBI: Shaktikanta Das
