Banks’ loan growth drops for sixth month in December as tighter lending curbs weigh
MUMBAI, Jan 31 (Reuters) – Banks’loan growth moderated for a sixth straight month in December, the RBI data showed on Friday, as the impact of the Reserve Bank of India’s tighter lending norms for unsecured loans continued to ripple through the system. The data showed that banks’ credit increased by 12.4% year-on-year last month, slower than the 15.6% rise in December 2023, excluding the impact of HDFC Bank’s merger with its parent Housing Development Finance Corp. Including the impact of the merger, banks’ loans grew 11.2% last month, compared with 20% in the year-ago period. The loan growth rate had