Revival of Indian economy; RBI data shows expansion in credit growth for first time in 14 months
RBI data: For the first time in 14 months, the industrial sector saw an expansion in credit growth in November 2017 over the same period the previous year. Reserve Bank of India has released the data which shows gross bank credit expanded 8.3 per cent in November, and credit off-take by the industry by 1 per cent. The contraction in credit growth to the industry since October 2016 had hit a low of (-)5.2 per cent in February 2017, while the gross bank credit growth stood at 3 per cent in the same month.
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