Credit to industry hits 8-year high as corporations opt for bank funding

Credit growth in the industries segment hit an eight-year high as Indian corporates look to come out of their deleveraging phase and turn towards banks for their funding requirements given bond yields have moved up sharply as compared to lending rates of banks.
 

According to the latest Reserve Bank of India (RBI) data, loans to micro, small, medium, and large industries rose to Rs 31.82 trillion as of July-end, up 10.5 per cent year-on-year (YoY). Even on a month-on-month (MoM) basis, it has witnessed a 0.4 per cent growth and on a year-to-date (YTD) basis, it is up almost 1