Growth in non-food bank credit rose to a four-month high of 7.26 per cent year-on-year (y-o-y) during the fortnight ended July 7 from 6.71 per cent in the previous fortnight, clocking a fourth straight fortnight of positive growth. The corresponding figure in the year-ago period was 9.44 per cent.
According to provisional data released by the Reserve Bank of India (RBI), outstanding loans to companies and individuals rose to Rs 76.53 lakh crore from Rs 76.06 lakh crore a fortnight ago. Net corporate bonds outstanding, at Rs 24.81 lakh crore at the end of June, was up 20 per cent from Rs 20.63 lakh crore in June 2016, as per the latest data released by Sebi.
Data from the RBI showed that the net outstanding on commercial papers (CPs) stood at Rs 3.29 lakh crore as of June 30, down from Rs 3.38 lakh crore in the previous year. Taken together with the outstanding on corporate bonds and CPs, the total outstanding credit in the system adds up to at least Rs 104.63 lakh crore, up 9.2 per cent from Rs 95.81 lakh crore in the comparable period last year. Outstanding on corporate bonds and CPs for July is not available yet.