Banks witness low credit growth due to coronavirus-induced lockdown
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As of April 30, 2020, the outstanding aggregate bank credit amounted to Rs 102.7 lakh crore, Rs 1.03 lakh crore lower than March-end 2020. The incremental bank credit off take contracted in April 2020 by 1 per cent. The low bank credit growth can be attributed to the risk aversion of banks to lend as well as the suspension of business and commerce due to the lockdown.
Story by Shivani Sharma
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