RBI Governor says credit growth is expected to pick up in coming months

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Union Finance Minister Nirmala Sitharaman today held a post-budget meeting with the Central Board of Directors of Reserve Bank of India in New Delhi.

Briefing media after the meeting, the Finance Minister said, they are monitoring banks on credit flow to the agriculture sector. She said the merger of banks did not come up for discussion during the meeting.

RBI Governor Shaktikanta Das said, the credit growth is expected to pick up in the coming months. The surplus liquidity is helping monetary policy transmission.

The RBI will ensure that there is adequate liquidity. Mr Das said, the transmission of rate cuts are slowly and steadily improving and are expected to improve further.

The RBI Governor further said that the growth projection of six percent has been given for the next year which is in line with the Economic Survey projection.