 "Reserve Bank of India, RBI")
Keeping with the rising momentum in economic activity, the bank credit expansion was broad-based, posting double-digit annual growth in June 2022 in metropolitan, urban, semi-urban and rural areas in the country, showed Reserve Bank of India data.
RBI data showed the metropolitan regions saw maximum acceleration with year-on-year (YoY) credit growth vaulting from 2.7 per cent in June 2021 to 13.2 per cent in June 2022. It should be kept in mind that the second wave of Covid-19 pandemic hit the economic activity in April-June 2021 (Q1FY22).
The urban region saw the growth rising to 18.4 per cent in
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