Non-food bank credit rose by 13.4% in October, farm loans up too: RBI data

Loans to agriculture and allied activities rose by 8 per cent as compared with an increase of 5.5 per cent in October 2017.

Non-food bank credit rose by 13.4 per cent year-on-year in October compared to a growth of 6.6 per cent in the year-ago month, according to data released by the Reserve Bank of India (RBI).

During the month, advances to industry rose by 3.7 per cent as against a contraction of 0.2 per cent in October last year.

"Credit growth to infrastructure, all engineering, chemical and chemical products and food processing accelerated," RBI said in a release today.

However, credit to basic metal and metal products, cement and cement products, gems and jewellery and paper, and paper products contracted.

Loans to agriculture and allied activities