Reserve Bank of India – Press Releases

Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs) – September 2023’ on its Database on Indian Economy (DBIE) portal¹ (web-link: https://dbieold.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 reporting². Data reported by 90 SCBs (excluding Regional Rural Banks) are presented for bank groups, population groups and states³.

Highlights:

• Bank credit growth (y-o-y) decelerated to 15.7 per cent, net of merger, in September 2023 (19.8 per cent, including the merger impact) from 18.0 per cent a year ago; rural and semi-urban branches of banks have, however, recorded accelerated credit growth.

• Loans to industry accounted for nearly one fourth of total bank credit; they increased by 8.6 per cent (y-o-y) in September 2023 (12.3 per cent a year ago); working capital loans growth has remained in double digits for the last six quarters.

• Bank lending to private corporate sector recorded robust growth and accelerated to 14.9 per cent (y-o-y) in September 2023 from 11.5 per cent a quarter ago and 14.7 per cent a year ago.

• The share of personal loans in bank credit has successively increased to over 30 per cent from 22 per cent share five years ago.

• The share of female borrowers in total bank credit as well as in loans to individuals has been rising in the recent period.

• Private sector banks continued to record faster credit growth when compared to public sector banks.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1400