Credit growth, after a long gap, grew in double digits to 10.65% to ₹80,96,727 crore in the fortnight ended December 22, 2017 due to the base effect, according to RBI data.
Advances stood at ₹73,17,391 crore in the fortnight ended December 23, 2016. “The credit growth is mainly because of the base effect,” State Bank of India’s managing director (retail and digital banking) P.K. Gupta said.
“Due to demonetisation last year, the base figures are getting revised and so, that is where you are seeing the growth,” Mr. Gupta added.
Published - January 07, 2018 09:00 pm IST
