Services, retail credit growth moderate in Aug on decline in credit to NBFCs
Business Standard|October 01, 2024
The growth in bank credit to the services sector moderated to 15.6 per cent year-on-year (Y-o-Y) in August 2024, down from 21 per cent a year ago, largely due to a considerable decline in credit to non-banking financial companies (NBFCs).
ANJALI KUMARI

Retail loan growth also slowed to 16.9 per cent Y-o-Y in August 2024, compared to 18.3 per cent in August 2023, according to Reserve Bank of India (RBI) data.

Credit to NBFCs grew by 11.9 per cent Y-o-Y in August 2024, sharply down from 21.3 per cent a year ago.

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