Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), Jun 2023’ on its Database on Indian Economy (DBIE) portal¹ (web-link: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=BsrPublications#!12). It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, type of account and interest rates based on account-level reporting. Data reported by 89 SCBs (excluding Regional Rural Banks) are presented for bank groups, population groups and states².

Highlights:

• Bank credit has sustained the upsurge in growth momentum since early 2022 and recorded annual growth (y-o-y) of 15.6 per cent in June 2023; all population groups (viz. rural, semi-urban, urban and metropolitan) recorded double digit credit growth.

• Credit growth continued to be led by personal loans segment, which registered 18.2 per cent (y-o-y) in June 2023; its share in total credit is steadily rising and stood at 28.8 per cent in June 2023 (28.2 per cent a year ago and 22.2 per cent five years ago).

• Industrial credit growth (y-o-y) accelerated to 9.3 per cent in June 2023 from 7.2 per cent a year ago.

• Growth in credit to household sector has exceeded the headline credit growth in the recent years; its share in total credit rose to 55.1 per cent from 47.2 per cent five years ago. On the other hand, the loan growth for private corporate sector trailed the headline credit growth.

• The share of small ticket loans (credit limit upto ₹1 crore) stood at 46.9 per cent, which exceeded the share of loans above ₹10 crores (40.9 per cent).

• The proportion of loans bearing over 9 per cent interest rate was 57.6 per cent in June 2023 from 56.2 per cent a quarter ago and 34.1 per cent a year ago. The weighted average lending rate (WALR) on outstanding credit increased marginally by 8 basis points (bps) during April-June 2023 to 10.15 per cent in June 2023.

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/843

¹ Banking aggregates based on fortnightly Form-A Return (collected under Section 42(2) of the RBI Act, 1934) for the last reporting Friday of June 2023 were published earlier at our website (Home>Statistics>Data Release>Fortnightly>Scheduled Bank's Statement of Position in India) and aggregate level monthly data on sectoral deployment of bank credit for June 2023, reported by select major banks, were also released on the website (Home>Statistics>Data Releases>Monthly> Data on Sectoral Deployment of Bank Credit).

² The erstwhile BSR-7 return has been discontinued after December 2022 reporting as a part of rationalisation, and the BSR-7 based data tables are now being generated from the BSR-1 (credit) and BSR-2 (deposit) returns.