paragraph

Loan demand in April picked up at more than double the pace of last year at 11.3 per cent compared to 4.7 per cent last April as economic activity accelerated across sectors.&nbsp;

<a target="_blank" href="https://economictimes.indiatimes.com/industry/banking/finance/banking/bank-loans-rise-across-sectors-in-april/articleshow/91925040.cms">A report in the Economic Times</a> shared how loan demand from large companies turned positive, as they are shifting back to banks to meet their funding needs as market rates surge.&nbsp;

Credit to large companies rose 1.6 per cent in April from the same month a year earlier, when it had contracted 3.6 per cent, according to the latest data on the sectoral flow of bank credit released by the ReserveBank of India (<a target="_blank" href="https://mintgenie.livemint.com/news/personal-finance/rbi-should-avoid-too-many-monetary-measures-piyush-goyal-at-davos-151653449745331" rel="dofollow">RBI</a>).

Credit to medium industries increased 53.5 per cent year-on-year in April this year compared with 44.8 per cent last year. The growth in credit to micro and small industries was 29 per cent against 8.7 per cent a year earlier. Overall, credit to the industry expanded 8.1 per cent against a contraction of 0.4 per cent in April 2021.

“The Reserve Bank’s continuous efforts to maintain adequate liquidity in the banking system, coupled with the government’s efforts to boost credit demand conditions in the economy, was reflected in the pickup in credit offtake by various sectors,” RBI’s latest annual report said. Retail loans too rose faster this year at 14.7 per cent against 12.1 per cent in April 2021, primarily driven by ‘housing’ and ‘vehicle loans’ segments.

Credit growth to agriculture and allied activities continued to be robust at 10.6 per cent; a year earlier, it was 10.7 per cent. Bank credit growth remained robust for the resilient agriculture sector even during the Covid-19 pandemic, with the continued support of the government’s interest subvention scheme, the central bank said.

Loans to the services sector picked up 11.1 per cent in April this year compared with 2.4 per cent a year earlier, mainly due to demand from NBFCs, trade, tourism, hotels &amp; restaurants and transport operators. The services sector, which felt the brunt of the pandemic, is staging a broad-based recovery from the second quarter of fiscal 2022, the RBI said.

April 2022 data highlight an increased demand for bank loans across all sectors

The flow of bank credit to various sectors has gone up a notch higher than it was in the previous year. Credit to medium industries increased 53.5 per cent year-on-year in April this year compared with 44.8 per cent last year.

What are the benefits of reverse mortgage?

This new EPF rules comes in effect on June 1

What is masked Aadhaar and how to download it online

How fraudsters use cryptos to trick investors & buyers alike

These ELSS funds gave as high as 33 percent return in past three years; Should you invest? 

How to claim income tax relief under Section 89(1) on income from arrears

Sundaram Home Finance revises interest rates on deposits; get up to 6.55%

Return on NPS schemes: Investment in equity outperforms others

Why passive mutual funds in ELSS category are a much needed reform

Sensex rises almost 1300 points this week despite headwinds; what is underpinning market sentiment?

<ul><li>The fall in crude oil and other commodity prices seems to have boosted the mood of the market. Besides, RBI's efforts to arrest the fall of the rupee and improvement in macroeconomic indicators are also supporting the market.</li></ul>

Bitcoin holds steady over $20,000; Ethereum and other altcoins in green

The world's largest cryptocurrency, was up on the day slightly 1.21 percent, trading at $20,400 while Ether rose 3.17 percent to 1,174 over the previous day.

Valuations of Asian stocks hit lowest since March 2020

The MSCI Asia-Pacific index's forward 12-month price-to-earnings ratio (P/E) stood at 12.1 at the end of last month, which was the region's cheapest valuation since March 2020, Refinitiv data showed.

TCS Q1 Results: Analysts expect mixed numbers; impact of macro headwinds key

<ul><li>Owing to a sharp rise in inflation and rate hikes, the risk of a recession has increased and most brokerage firms and analysts believe IT companies may see their demand scenario shrinking.</li></ul>

New Investor? Learn what are flag chart patterns and how to trade with them

A popular technical analysis tool, flag patterns are formed by price action contained within a narrow rectangle-shaped or a flag-shaped channel. To learn more about it, keep reading.