Credit offtake by business up 6.4% in Jan

Amid a spike in credit score offtake by the business, non-food financial institution credit score noticed 8.3 per cent year-on-year progress in January, a lot above the 5.9 per cent degree a 12 months in the past, as per newest RBI information.

The RBI mentioned credit score progress to business rose 6.4 per cent in January from 0.7 per cent it the identical month final 12 months. Size-wise, credit score to medium industries noticed double-digit progress of 74.7 per cent, towards 21.8 per cent a 12 months in the past.

Credit progress to micro and small industries rose to 19.7 per cent from 0.5 per cent, and that to massive industries noticed marginal progress of 0.5 per cent towards a contraction of 0.2 per cent.