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Credit growth continued its strong growth momentum in October month; it stood at its historical high levels of 18.3% YoY as compared to 16.9% YoY in September.
Services and industry credit continued to lead the credit growth in Oct-22 followed by support from retail credit growth. Service credit continued to witness uptrend and stood at 22.5% YoY (20.0% YoY in Sep-22).
Industry portfolio growth too witnessed uptick in Oct month at 13.6% YoY (12.6% YoY in Sep-22).
Overall, the credit growth continued to scale newer heights and the same is expected to continue in near future led by corporate credit demand.
Deposit growth saw downtick of 124 basis points on fortnight basis and stood at 8.3% (Nov 04, 2022) versus 9.5% (Oct 21, 2022).
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