Bank lending has grown at a double-digit rate in 2022-23. In September, non-food credit growth surpassed 15% year-on-year for the first time since 2018. This is good news, as bank credit is often a key indicator of growth. The company uses bank loans to finance working capital as well as new investments. Households borrow to finance housing, education, consumer durables, vehicles and other personal expenses. Non-banking finance companies (NBFCs) borrow from banks to provide loans to customers. Therefore, a continued increase in bank credit usually signals an economic recovery.