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15 MAR 2020
The gross banking credit growth registered a more than double rise year-on-year (y-o-y) to reach 9.6% in March 2022.
Non-Life Insurance Continues to Grow in May, Share of Motor Segment Rises.
Bank Credit Sees Double-Digit Growth – Shows Consistent Improvement
Group Single Premiums Continue to Boost Life Insurance in May
The positive momentum in credit offtake since the end of August 2021 ensured the credit growth stood at 9.6 percent in FY22, higher than the 5.6 percent growth seen at the end of FY21.
The Reserve Bank ofIndia has issued a circular to tighten the provisioning norms of standardassets for large NBFCs in a bid to harmonise the same with banks.
Acceleration in Retail Credit, Service and Industry Recovery Drive Bank Credit Growth
Banks’ outstanding credit to NBFCs rose by 10.4% y-o-y to Rs.10.5 lakh crore due to improvement in economic activities.
Bank Credit Sees Double-Digit Growth.
The non-life insurance industry has begun FY23 with 23.3% growth in April 2022, the highest in the past seven months, to reach Rs 21,276.3 crore.