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Bank credit growth falls to 7% in May: RBI data

Updated : July 01, 2020 07:17 AM IST

With the nationwide lockdown in place, both discretionary spending by consumers and capex by corporates took a hit, reflecting in lower credit offtake.
While food credit registered a growth of 20.8 percent in May, it was lower compared to 24.2 percent growth registered in the same period last year.
Vehicle loans registered a higher growth of 6.3 percent in May 2020 vs 5.7 percent growth last year.
Bank credit growth falls to 7% in May: RBI data

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