Banks non-food credit up by 9 per cent in March

Non-food bank credit of schedule commercial banks rose by 9 per cent in March 2017 as compared with an increase of 9.1 per cent in the same month last year, RBI data showed.
In the period, loans to agriculture and allied activities surged by 12.4 per cent which was lower than an increase of 15.3 per cent in last year.
Credit to industry contracted by 1.9 per cent as against an increase of 2.7 per cent last year.
Loans growth to major sub-sectors such as infrastructure, food processing, basic metal & metal products and textiles decelerated/contracted.
"However, credit growth to petroleum, coal products & nuclear fuels, wood & wood products, rubber, plastic & their products, vehicles, vehicle parts & transport equipment and construction accelerated," RBI said in a release here today.

Advances to the services sector rose by 19.5 per cent, up from the increase of 9.1 per cent last year.
Personal loans increased by 16.7 per cent lower than the increase of 19.4 per cent in March 2016, the apex bank said.