Credit growth declines to 4.9%; loans to medium industries jump

There have been several opportunities where the financial industries have been making progress and the risk of taking hot on some of the things. Certain services like that of the loans and advances have shown a slight decrease in the application of credit growth. The uses of reforms and the changes in the approach have made it possible to put a positive trend on loans such as car loans and gold loans.

 

Due to the onset of the coronavirus, there has been a considerable fluctuation and have changed the unfavourable things in the favourable one and the good stuff in the unfavourable one. Some of the small scale industries like that of the leather and textiles, papers and glass companies, and wood and the jewellery industry in case of the gold loan, the valuation of which are done based on the gold loan per gram achieve a massive increase in the acquiring the credit facilities.

 

On the other side of the coin, if we see into the industries working, some declining graphs like that of rubber, mining, plastics, metals, and the cement industries , loan against gold. It can be said as an effect of the covid -19 that as per the data of the reserved bank of India the credit facilities to the agricultural sector have increased twice as compared to any other industries which show the positive, self-reliant behaviour of meeting the self needs by self-production which causes the positive effect during this covid 19 situation.

 

The housing loan, as compared to that of the gold loan interest rates have been above the latter one, but the housing loan growth rate has also declined to the 9.1 % mark. To accelerate those industries and the sectors, some steps need to be taken so that the growth opportunity can be seen based on the credit finances and with the increasing trend

 

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