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Bank credit in July rose at its fastest pace in three years, aided by retail loans and services credit. After a few years of sluggish growth, non-food bank credit rose 15.1% year-on-year in July, according to the monthly data released by the Reserve Bank of India. It’s at its highest level since July 2019. On a monthly basis, retail loans and services credit led lending growth, and credit to industries expanded 10.5%.
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