Non-food bank credit up 8% in September
02 January 2016
Non-food bank credit increased by 8.8 per cent year-on-year in November 2015 compared with the increase of 10.5 per cent in November 2014, as per latest figures released by the Reserve bank of India.
Credit to agriculture and allied activities increased by 11.8 per cent in November 2015 compared with an increase of 19.7 per cent a year ago.
Credit to industry increased by 5.0 per cent in November 2015 compared with an increase of 7.3 per cent in November 2014.
Credit growth decelerated across all major sectors and sub-sectors barring chemical and chemical products and basic metal and metal products.
Credit to service sector increased by 6.8 per cent in November 2015 compared with the increase of 7.9 per cent in November 2014.
Personal loans increased by 18.0 per cent in November 2015, up from the increase of 15.8 per cent in November 2014.
The figures are based on bank credit data collected on a monthly basis from select 46 scheduled commercial banks, which account for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks.