Covid-19 crisis: Banking credit shrinks 1.7% in May as lockdown bites
May was the second full month of the nationwide lockdown. According to Reserve Bank of India (RBI) data, gross bank credit was down to Rs 91.08 trillion in May, from Rs 92.63 trillion in March. Loans to industry — large, medium, small and micro — declined by 1.5 per cent in the two months to Rs 28.61 trillion in May. The micro and small segment showed a 7.6 per cent slump, medium size a decline of 5.4 per cent, and large segment a fall of 0.4 per cent.
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