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15 MAR 2020
Credit offtake, which showed an advancing trend in the latter half of FY22, has continued in FY23.
The non-food credit growth registered a more than 2.5x rise year-on-year (y-o-y) and reached 13.7% in June 2022.
Marching upwards since the latter of FY22, credit offtake registered a robust growth of 16.2% year-on-year (y-o-y) in the fortnight ended September 09, 2022
After over 20% growth in Q1 FY23, the non-life insurance industry registered a growth of 16% and 11.9% in July and August, respectively.
Credit growth has maintained its growth momentum driven by sustained retail and rising corporate loan growth.
The first-year premium of life insurers reached Rs 32,856 crore in August 2022
Private Sector Banks (PVB) and Public Sector Banks (PSB) have maintained high spreads between lending and deposit rates
Banks’ outstanding credit to non-banking financial companies (NBFCs) rose by 27.4%
After slowing in H2FY21 and FY22, the number of insolvency cases increased by 23.5% y-o-y in Q1FY23
Bank Credit Growth Continues to Accelerate