Reserve Bank of India in it’s annual report which was ended in March, 2021 said that there was a worst situation rate over the credit Growth. This annual report was about to a period of nine months. This was ended in March 2021. Among all the bank groups and institutions, public sector banks has been registered as a non food credit growth of 3.1% in March 2021 and this was compared to 3.4% of a year ago.
The credit growth was levelled down due to the present pandemic situation. As it was listed that the growth was again started in Nov 2020 after the pandemic situation by this the economy also started which triggered to the lockdowns. This was mentioned on the annual reports of nine months.
Loan growth of banks was impacted during the first half of the fiscal H1FY21 and which was remained at the three years low at 5.1% till October 2020, but it improved to 5.6% on a year on basis till March 2021.
Among bank groups, public sector banks had also included some of the measures of non food credit growth of 3.1 % in March 2021.However the credit extended by private sector banks grew by 9.6% compared to 13.9% a year ago.