Loans to industry hit new high in July

Bank loans registered 15.1% growth in July compared with 5.1% a year earlier as large corporates came back to banks. Credit to large industry grew by 5.2% in July against a contraction of 3.8% a year earlier, as per RBI data. Medium industries recorded credit growth of 36.8%, down from 59% in July 2021, while credit growth to micro and small industries accelerated to 28.3% from 10.5% during the same period.

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