Credit growth indicates early signs of decline as covid hits sentiment, bankers

Bank credit is showing early signs of a slowdown following the onset of the second wave of covid infections, with 5.3% year-on-year growth in the fortnight ended 9 April, compared to 5.6% in the previous fortnight. To be sure, while in absolute terms, bank credit usually declines in the first month of a new financial year, as it is a lean period, according to Care ratings, the y-o-y growth rate has fallen in the first month of a new fiscal year for the first time in the last five years
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