New Delhi, Sept. 1 -- Bank borrowing picked up pace in June, with overall credit growth rising to 16.5% from 9.9% a year earlier. At the same time, the weighted average lending rate on outstanding bank credit fell to 9.26% from 9.71%, while nearly two-thirds of outstanding loans carried interest rates below 9%, according to the Reserve Bank of India's latest Quarterly Basic Statistical Return (BSR) report.

The data also shows some notable changes across individual borrowers and locations. Credit to female individual borrowers grew 19.7%, faster than overall bank credit, while personal-loan credit grew 12.7%. Credit growth was above 21% in rural, semi-urban and urban centres, compared with 13.1% in metropolitan centres.

The weighted aver...