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Chart of the Day | Bank credit growth lowest since October 2017

The mess in the NBFC sector is a third shock to the economy comparable to demonetisation and GST.

November 25, 2019 / 09:18 AM IST
Chart of the Day | Bank credit growth lowest since October 2017

(image) Cast your eyes on the accompanying chart. Non-food credit, or bank loans other than to the Food Corporation of India for their crop procurement operations, is now growing at its slowest pace in two years. The last time growth was so low was in the aftermath of demonetisation and the introduction of the Goods & Services Tax. That loan growth is back to those levels suggests that we are now seeing a third shock to the economy comparable...

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