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T The Radius News 2026-10-30
RBI Reports Significant Movements in Bank Credit and Interest Rates for September The Reserve Bank of India (RBI) reported a notable increase in bank credit growth and a decrease in interest rates for September 2023. Non-food bank credit surged 19.1 percent year-on-year, with the services sector experiencing the highest growth at 28.3 percent. The weighted average lending rate on new rupee loans fell to 8.51 percent, while interest rates on fresh term deposits decreased to 5.61 percent. Additionally, the RBI noted that services exports rose to over 39 billion US dollars, contributing to a services trade surplus of approximately 19.2 billion US dollars.
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