Bank credit growth will nosedive to 1% due to COVID-19 impact: Crisil
Shortpedia
Content Team
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The COVID-19 pandemic and the ensuing economic impact will lead bank credit growth to nosedive to only 1% in 2020-21, as against the 6.14% achieved in the the last financial year, a report said on Monday. Domestic rating agency Crisil, which estimates bank credit growth to come at 0-1% in this financial year, had earlier predicted it to expand by 8-9%. Bank credit is an important factor illustrative of the general economic climate.
