RBI Says Non-food Bank Credit Growth Decelerates To 7.3% In April 2020 From 11.9% In April 2019

The RBI has come up with data on sectoral deployment of bank credit collected from select 33 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of April 2020.

Highlights of the sectoral deployment of bank credit show that on a year-on-year (y-o-y) basis, non-food bank credit growth decelerated to 7.3% in April 2020 from 11.9% in April 2019. Credit growth to agriculture & allied activities decelerated to 3.9% in April 2020 from 7.9% in April 2019.

Credit growth to industry decelerated to 1.7% in April 2020 from 6.9% in April 2019. Within industry, credit growth to 'beverage & tobacco', 'petroleum, coal products & nuclear fuels', 'paper & paper products' and 'rubber, plastic & their products' accelerated. However, credit growth to 'mining & quarrying', 'chemicals & chemical products', 'construction', 'textiles', 'all engineering' and 'basic metal & metal products' decelerated/contracted.

Credit growth to the services sector decelerated to 11.2% in April 2020 from 16.8% in April 2019. Personal loans growth decelerated to 12.1% in April 2020 from 15.7% in April 2019.

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