Oct non-food credit growth rate at 8.3%, down from 13.4% in year-ago period

However, the busy season starting from the third quarter may show improvement in demand.

In line with slowdown in the economy, growth in non-food credit disbursal by commercial banks decelerated to 8.3 per cent in October 2019 from 13.4 per cent in the same month last year.

Public sector bank executives said the demand credit of industry and services has been subdued in the seven months of the current financial year. 

However, the busy season starting from the third quarter (October 2019) may show improvement in demand. 

This is owing to steps taken by the government to push growth and good monsoon, improving prospects of the rabi crop.  The demand in retail segment has been steady and