Maharashtra accounted for 30.36 per cent of all loans given by scheduled commercial banks at the end of December 2016, shows data released by the Reserve Bank of India. The central bank releases quarter-end state-level data on bank credit with a nine-month lag. The latest set of data was released on September 12.
At the end of December, Maharashtra accounted for Rs 22.27 lakh crore of bank credit. At the all-India level, total bank loans stood at Rs 73.36 lakh crore. The state was followed by Delhi with Rs 9.10 lakh crore of loans, Tamil Nadu with Rs 6.68 lakh crore, Karnataka with Rs 4.80 lakh crore and Gujarat with Rs 3.98 lakh crore of bank advances. Together, the top five states accounted for 63.86 per cent of total bank loans. This was an increase from the 63.03 per cent share they had a year ago.
In general, the year to December 2016 was a poor time for growth in bank credit as lenders struggled with a burgeoning bad loan problem and industrialists were reluctant to borrow. Overall bank credit growth was close to a multi-decadal low at 5.34 per cent. However, many of the top 5 states saw faster growth in credit.
Maharashtra’s loans grew 9.44 per cent from a year ago at the end of December. Among states with outstanding bank credit of at least Rs 1 lakh crore, Karnataka’s growth rate was the highest at 10.33 per cent. Andhra Pradesh, Telangana, Kerala and Gujarat’s pace also topped 9 per cent. On the other hand, Delhi and Tamil Nadu showed poor growth rates at 1.06 per cent and 2.15 per cent respectively.