On Tuesday, Finance
Minister Nirmala Sitharaman had said state-owned banks
sanctioned about Rs 6.45 trillion worth loans to various sectors, including MSMEs, agriculture and retail between March 1 and May 15.
Loans sanctioned by public sector banks
(PSBs) at the end of May 8 stood at Rs 5.95 trillion.
"Loans worth over Rs 6.45 trillion were sanctioned by PSBs during March 1 - May 15 for 5.4 million accounts from MSME, Retail, Agriculture & Corporate sectors; A notable increase compared to the Rs 5.95 trillion sanctioned as of May 8," Sitharaman had tweeted.
sanctioned over Rs 1.03 trillion as emergency credit lines and working capital enhancements in the period March 20 to May 15, which is a substantial increase over the Rs 65,879 crore that had been sanctioned up to May 8, she had said.
The Reserve Bank of India (RBI), in a separate release, said bank credit
growth (y-o-y) decelerated for the fourth successive quarter in December 2019 as industrial credit growth (-0.8 per cent) moved to the negative terrain for the first time after September 2017.
During the quarter, personal loans segment continued to grow at a robust pace of 17.1 per cent.
Private sector banks led the credit expansion as their share in total credit had successively expanded to 35.7 per cent in December 2019 from 32.2 per cent a year ago and 30 per cent two years ago, RBI data showed.
The y-o-y credit growth by metropolitan branches decelerated to 5.2 per cent in December 2019 from 14.7 per cent a year ago, whereas bank branches in rural, semi-urban and urban areas maintained double-digit credit growth, RBI said.
Branches in northern, western and southern states accounted for nearly 84 per cent of the total credit in the December quarter, the central bank said.