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Big industry borrowed more during the first month of lockdown, RBI data show

Salary cuts and layoffs seem to have affected consumption and personal loans.

June 02, 2020 / 10:24 AM IST
Big industry borrowed more during the first month of lockdown, RBI data show

We know credit growth has been falling. At the end of April, year-on-year (YoY) growth of non-food bank credit fell to 7.3 percent compared to 11.9 percent a year ago. But what has been the trend in credit offtake in just the month of April, the first complete month of the lockdown? The month-on-month ( April-end versus March-end) data shows the firms gasping for cash borrowed more. For April 2020, the month-on-month (MoM) change in non-food bank credit was minus...

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