Banks non-food credit slows to 8.3% in Oct

Non-food credit of schedule commercial bank slowed to 8.3 per cent in October as against a higher growth of 11.1 per cent last year in the same period, RBI data showed.
In September, non-food bank credit had increased by 8.6 percent, same as in the year-ago period.
Advance to industry rose by 4.6 per cent in October compared with the increase of 7.8 per cent last year.
"Deceleration in credit growth to industry was observed in all major sub-sectors barring chemical and chemical products and vehicles, vehicle parts and transport equipment," RBI said in a release here today.
Personal loans increased by 16.9 per cent in October, up from the increase of 16.7 per cent in October last year.

Credit to agriculture and allied activities increased by 11.1 per cent compared with the increase of 20.3 per cent a year ago.
The services sector advances increased by 6.8 per cent compared with the increase of 8.4 per cent.
Data on sectoral deployment of bank credit 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.