Industrial mood subdues; medium sized firms look glum
Updated: Mar 11, 2014 05:01:02pm
New Delhi, Mar 11 (KNN) The deployment of Gross Bank Credit to the medium sized industries has increased by barely 1.3 per cent in the current financial year till January. Whereas, the funds deployed in the micro and small units grew at a faster rate of 16.1 per cent. Similarly, a severe hit has been taken by the medium scale enterprises from the ongoing slowdown.
The credit deployment to the large scale companies in the industry segment grew by 8.3 per cent in the current financial year whereas the Year on Year (YoY) growth between January end 2014 and the same month in 2013 was higher at 13 per cent.
The lack of consumer confidence is shown in the negative trend of advances against fixed deposits.
A similar trend was also noticed in the credit card outstanding. This reflects that even the credit card spending is not growing.
The vehicle loans too are showing slower growth of 14.7 per cent in the current fiscal as against 19.9 per cent YoY till January end.
The overall industrial mood, judged by the deployment of gross bank credit looks subdued. The non-food credit expanded by 9.7 per cent in the fiscal 2013-14 as against 15 per cent YoY till January end. (KNN/PC)
The credit deployment to the large scale companies in the industry segment grew by 8.3 per cent in the current financial year whereas the Year on Year (YoY) growth between January end 2014 and the same month in 2013 was higher at 13 per cent.
The lack of consumer confidence is shown in the negative trend of advances against fixed deposits.
A similar trend was also noticed in the credit card outstanding. This reflects that even the credit card spending is not growing.
The vehicle loans too are showing slower growth of 14.7 per cent in the current fiscal as against 19.9 per cent YoY till January end.
The overall industrial mood, judged by the deployment of gross bank credit looks subdued. The non-food credit expanded by 9.7 per cent in the fiscal 2013-14 as against 15 per cent YoY till January end. (KNN/PC)
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