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The optimistic momentum in credit score offtake considering that the end of August 2021 ensured the credit score progress stood at 9.6% in FY22, higher than the 5.6% progress viewed at the end of FY21.
Credit rating advancement was muted pre-Covid, reflective of macro adjustments these as cleansing up of NPAs, threat aversion put up the huge NBFC defaults, and so on.
More, Covid-19 led to lockdowns that impacted credit expansion all through FY21.
Provided the situation, the Reserve Lender of India had minimized fascination premiums in the previously component of the pandemic and consequently, banking system charges have commonly trended reduced.
With the Covid-19 pandemic settling, credit rating offtake has elevated.
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