Bank credit grows at 6.14 percent, slowest since 1962

Bank credit growth decelerated to an over five-decade low of 6.14 percent in the fiscal ended March 31, 2020, amid a faltering economy, lower demand and risk aversion among banks, according to RBI.

Bank advances growth in FY20 was the slowest since the fiscal ended March 1962, when loans had grown by 5.38 percent.

In the week ended March 27, 2020, advances stood at Rs 103.71 lakh crore as against Rs 97.71 lakh crore as on March 29, 2019, according to Reserve Bank data