However, while the overall credit growth continued to remain subdued, credit growth to the commercial real estate sector remained high well above the overall credit growth (Table 4). As indicated in para 19, in the wake of the global financial crisis, the Reserve Bank had temporarily modified its prudential guidelines for restructuring of advances.
However, the extent of restructured advances to the commercial real estate sector was relatively high. Accordingly, provisioning norms on standard assets were increased for the commercial real estate sector in November 2009.