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SSC CGL 2022 PYQ — Question 48

SSC CGL - 19 April 2022 - Shift 2 • General Awareness • Q48

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According to the Union Budget 2020-2021, the bank credit growth as of January 1,
2021, stood at ______%

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 6.7.

  • The credit growth was 5.3 per cent at beginning of April 2021 and started to increase since then, but was still modest and stood at 7.3 per cent as on 17 Dec 2021.
  • In 2021-22, the risk capital (i.e. money raised from capital market) has so far been more important than the banks in providing finance to the rival.
  • The rise in demand for loans is called credit growth. This is an important indicator of economic activity.