Gross bank credit and non-food credit data are based on Section-42 return, which covers all scheduled commercial banks (SCBs), while sectoral non-food credit data is based on sector-wise and industry-wise bank credit (SIBC) return that covers 40 banks accounting for approximately 93% of non-food credit extended by SCBs.
Gross bank credit offtake witnessed an elevated increase of 20% year-on-year (y-o-y) in September 2023 buttressed by continued robust demand from the personal loans and services segments, and the impact of the merger between HDFC Bank and HDFC. Without considering the merger, the y-o-y growth stood at 15.3%, a tad lower than last year’s growth number of 16.4%.
