Bank credit grows 5.4% in Sept quarter
Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June
PTI | January 3, 2021 | Updated 20:02 IST
RBI on Friday released Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), September 2020
Bank credit growth on a year-on-year basis stood at 5.4 per cent in September quarter of the current fiscal year compared to 5.7 per cent growth in the previous quarter, RBI data showed. Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June.
Bank credit grows at 5.4% in September quarter: RBI
SECTIONS
Last Updated: Jan 01, 2021, 07:01 PM IST
Share
Synopsis
Personal loans, which accounted for one-fourth of bank credit, continued to maintain double-digit growth during the September quarter.
Agencies
Weighted average lending rate (WALR) for outstanding credit declined by 21 basis points during July-September 2020, RBI said.
Mumbai: Bank credit growth on a year-on-year basis stood at 5.4 per cent in September quarter of the current fiscal year compared to 5.7 per cent growth in the previous quarter, RBI data showed. Credit growth for metropolitan branches, which have major share in bank credit, decelerated to 3.3 per cent year-on-year in September 2020 quarter as compared to 4.7 per cent in April-June.
Government ropes in Nabard & Hudco to revive rural housing scheme
SECTIONS
Share
Synopsis
The Rural Housing Interest Subsidy Scheme has managed to spend barely around Rs 10 crore till this week, out of around Rs 50 crore released mid-2019, with roughly 9,000 beneficiaries. It marks a setback for government expectations, evident from the fact that the rural development ministry had earmarked Rs 100 crore for 2020-21.
iStock
(This story originally appeared in on Dec 17, 2020)NEW DELHI: The scheme to provide interest subvention to the rural homeless poor has failed to make a mark with weak response to loans and poor utilisation of funds, prompting the government to seek its revival by roping in two financial institutions with strong rural network.
NEW DELHI: The scheme to provide interest subvention to the rural homeless poor has failed to make a mark with weak response to loans and poor utilisation of funds, prompting the government to seek its revival by roping in two financial institutions with strong rural network.
The Rural Housing Interest Subsidy Scheme has managed to spend barely around Rs 10 crore till this week, out of around Rs 50 crore released mid-2019, with roughly 9,000 beneficiaries. It marks a setback for government expectations, evident from the fact that the rural development ministry had earmarked Rs 100 crore for 2020-21. Sources said the current year allocation is redundant now given the abysmal expenditure.
FM Sitharaman reviews progress of schemes under 3 packages
India
Published: Monday, December 14, 2020, 10:23 [IST]
New Delhi, Dec 14: Finance Minister Nirmala Sitharaman took stock of progress made under various schemes under the three Aatmanirbhar Bharat Packages (ANBP) to help revive economy hit hard by the outbreak of COVID-19 pandemic.
Following announcement by the Prime Minister, Sitharaman presented the details of the Rs 20.97 lakh crore ANBP 1.0 in a series of press conferences from May 13-17. It was followed by AatmaNirbhar Bharat Package 2.0 on October 12 and the third tranche on November 12.
Finance Minister Nirmala Sitharaman
Sitharaman on Friday concluded a comprehensive review of ANBP with the Secretaries of various Ministries and Departments concerned over three days, the Finance Ministry statement said on Sunday.