TN tops in credit flow

  • 09/01/2005

  • Financial Express (New Delhi)

Tamil Nadu has scored a first in terms of credit flow from all commercial banks. This implies the state economy is growing at a more rapid pace, with industry spurring the charge, as compared to other states. It is also an indication of the state attracting investments in a large amount, leading to higher credit demand, according to bankers and industrialists. According to figures published by the RBI, Tamil Nadu has been the first among all states this year, till end-June, in attracting commercial bank credit. While all scheduled commercial banks in TN put together had mopped deposits of Rs 98,170 crore till June, the banks have advanced Rs 88,180 crore to various sectors.