New Delhi Jan 6 (IANS) The central government s recent decision to recapitalise public sector banks (PSBs) has led to a "surge in credit growth" a senior government official said on Saturday.
According to Rajeev Kumar Secretary Department of Financial Services (DFS) in the Ministry of Finance the banking sector posted double digit growth on a year-on-year basis in December 2017.
"Surge in credit growth: Sustained momentum post-PSB recap decision -- Banking sector posts double digit (10.7 per cent Y-o-Y) growth in Dec 17 up from (7.2 per cent Y-o-Y) in Oct 17 powered by #services & #retail " Kumar tweeted.
--IANS
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