Non-food Bank Credit Increases By 11.1% In June 2019 On YOY Basis

On a year-on-year (y-o-y) basis, non-food bank credit increased by 11.1% in June 2019 - the same rate as in June 2018, according to RBI's data on sectoral deployment of bank credit collected from select 39 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks. Credit to agriculture & allied activities increased by 8.7% in June 2019 as compared with an increase of 6.5% in June 2018. Credit to industry rose by 6.4% in June 2019 as compared with an increase of 0.9% in June 2018. Within industry, credit growth to 'infrastructure', 'chemical & chemical products', 'vehicles, vehicle parts & transport equipment', 'cement & cement products' and 'all engineering' accelerated. However, credit growth to 'basic metal & metal products', 'textiles', 'food processing' and 'construction' decelerated/contracted. Credit growth to the services sector decelerated to 13% in June 2019 from 23.3% in June 2018.

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