The momentum in SCBs’ credit offtake has been mostly positive since end-August 2021 and it increased by 9.6 per cent on a year-on-year basis for 2021-22 as compared with 5.6 per cent the previous year.
According to data on the sectoral deployment of bank credit, credit to agriculture and allied activities grew by 9.9 per cent in March 2022 vis-à-vis 10.5 per cent in March 2021. Bank credit growth remained robust for a buoyant agriculture sector even during the COVID-19 pandemic period with continued support of the government’s interest subvention scheme.