The recently released numbers from CSO have placed the first quarter growth (April to June, 2006) at 8.9 per cent, more than the overall growth rate of 8.0 per cent reiterated recently by the Reserve Bank in its Mid-Term Review.
On an earlier occasion in this forum, in its earlier avatar as BECON in December 2002, I had noted the slow growth of credit and taken to task that audience of bankers as ‘lazy bankers’ (Mohan, 2002). Fortunately, you seem to have taken this observation seriously and non-food credit growth from 2002-03 to 2005-06 averaged 28.8 per cent.