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Macronomics: Industrial Bank Credit Contracts Even Before Demonetisation, Banks Still Love Real Estate Borrowers

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Today's Macro Data isn't about demonetization. It's about pre-demonetization. Tomorrow's the RBI policy and it looks like there's going to be a rate cut. Because there's no reason not to - inflation is low right now, growth isn't happening (we'll demonstrate) and banks aren't cutting rates yet. Let's see how growth has fared. India's bankers were pushing things much more towards retail individual loans rather than industry. Industry, in fact, has seen credit contraction - meaning, they are taking lesser loans than a year earlier - for a while now. And . . .

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