BankingPre-market
Bank loans contract for first time in four months
pre-market1 source ↓written by the desknot a recommendation
- from 11.4
- 11.5%
- also fell
- ₹2.15 trillion
Bank loans contracted ₹49,468 crore in the fortnight ending 17 Oct 2023, marking the first decline since July. Year-on-year growth improved slightly to 11.5% from 11.4%. Deposits also fell by ₹2.15 trillion, reflecting a slowdown in lending despite previous robust demand during the festival season. 📉
This contraction may impact market sentiment as banks adjust to changing economic conditions.
Not investment advice. For informational purposes only.