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Home » IANS » Corporates’ Aug sequential fund mobilisation up 65%: SBI report

Corporates’ Aug sequential fund mobilisation up 65%: SBI report

By IANS
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New Delhi, Oct 9 (IANS) Fund mobilisation by corporates in the capital market has increased by around 65 per cent in August on a sequential basis, a report by State Bank of India said.

The report prepared by the SBI’s Economic Research Department showed that fund mobilisation by corporates in capital market increased to Rs 109,998 crore as compared to Rs 66,915 crore in July.

“Overall, in FY21, fund mobilisation in capital market, increased by around 14 per cent to Rs 453,861 crore till Aug’20 as compared to Rs 398,971 crore in the same period in the previous year,” said the report titled “Four months after Unlock”.

“Commercial paper issuances increased by 48 per cent in Sep’ 20 to Rs 1.93 lakh crore as compared to Rs 1.30 lakh crore in Aug’20.”

In terms of lending trends, the report cited that except for services and personal loans, credit to all other major sectors has declined in August.

“The bad thing is that the overall bank credit has increased in June and July by Rs 392 billion but in August, it declined by Rs 360 billion, which is mainly due to decline in credit to personal loans and infrastructure segments.

“The consumer leverage also declined in August indicating the stress on household balance sheets are now emerging.”

The report also said that the lender’s Business Activity Index as well as the SBI Composite Index showed an upward momentum in September.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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