CURRENT AFFAIRS: BANKING & FINANCE
Retail trade and NBFCs drive credit growth in services – RBI data
- According to the data from the Reserve Bank of India (RBI), significant offtake from retail and non-banking financial companies (NBFCs) increased credit to services by 21.5% year-on-year (YoY) in Jan 2023 as against 5.7% in Jan 2022.
- RBI data showed loans to retail increased 21.8% Year on Year (YoY) in Jan 2023, up from 6.9% in Jan 2022.
