Banks non-food credit growth slows to 8.4% in Aug

Non-food credit growth of scheduled commercial banks slowed to 8.4 per cent in August from 10.2 per cent in the same period last year, RBI data showed.
Personal loans increased 17.3 per cent in August, up from an expansion of 13.4 per cent in the same month last year.
Credit to agriculture and allied activities rose by 12.1 per cent in the reporting month compared with an increase of 18.8 per cent a year ago. Loans to industry grew 5 per cent in the month, up from 7.8 per cent.
"Deceleration in credit growth to industry was observed in all major sub-sectors barring basic metal, engineering, chemical & chemical products and gems & jewellery," the apex bank said.

Advances to the services sector rose 5.9 per cent in the month under review from 8.3 per cent last year, according to the data.