Bank non-food credit slows to 8.4% in July

Non-food credit of scheduled commercial banks decelerated to 8.4 per cent in July as against a growth of 12.6 per cent in the same period last year, RBI data showed.
Credit to industry slowed to 4.8 per cent in the period as compared with the an increase of 10.2 per cent last year.
"Deceleration in credit growth to industry was observed in all major sub-sectors barring basic metal and gems and jewellery," RBI said in its data on sectoral deployment of bank credit for the month of July.
The data is collected on a monthly basis from select 46 scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks.

Agriculture and allied activities loans grew 12.2 per cent as compared with a rise of 19.5 per cent in July last year.
Services sector credit increased 6.4 per cent as against an increase of 11.8 per cent last year same month.
Credit to NBFCs grew marginally 1 per cent in July as compared with the increase of 12.1 per cent in July last year.
Personal loans increased 16.8 per cent in July as against a rise of 15.1 per cent in July 2014.