Bank Credit Growth (y/y) in India

Measures the year-on-year change in credit extended by India's commercial banks. It is the benchmark gauge of the credit pulse in an economy where bank financing dominates over capital markets. It is published by the Reserve Bank of India (RBI).

The RBI compiles it from banks' fortnightly returns and releases it in its Weekly Statistical Supplement. The published figure is the percentage change against the same period a year earlier.

Credit growth signals the strength of domestic demand and investment: an acceleration points to firmer activity and possible inflationary pressure, while a slowdown suggests cooling. It is one of the variables the RBI's monetary policy committee watches when setting rates.

The data are provisional and revised in later releases. The aggregate does not distinguish credit quality or bad loans, and it is affected by base effects and one-off large transactions, along with some seasonality tied to the festival and agricultural calendar.