If the latest data from the Reserve Bank of India (RBI) is considered, then the demand for loans has increased drastically in this year. Commercial banks have reportedly distributed more than double the credit in this year than what they did in the previous year.
According to the figures released by RBI, the scheduled banks have already given 2.5 times the credit, which stands at Rs 1,00,563 crore as compared to Rs 41,718 crore in the last fiscal.
Talking on the matter, the Chairman and Managing Director of Andhra Bank, Mr. B. A. Prabhakar, said that the working capital demand has gone up so far.
The Deposit collection has also increased between the first of April and 1 June and it stands at Rs 2,34,111 crore which is Rs 61,217 crore higher than last year's collection of Rs 1,72,894 crore.