Home / Economy / News / Pace of non-food credit offtake slows further in Nov with 7.2% growth YoY

Pace of non-food credit offtake slows further in Nov with 7.2% growth YoY

Credit to agriculture and allied activities slowed down to 6.5 per cent in November 2019 from 7.7 per cent in November 2018, the RBI said

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2 min read Last Updated : Jan 01 2020 | 1:32 AM IST

The pace of non-food credit offtake slowed further in November 2019 with year-on-year (YoY) growth of 7.2 per cent, reflecting protracted economic slump.

The growth was 13.8 per cent in November 2018, according to Reserve Bank of India (RBI) data.

Even sequentially, the pace of non-food credit offtake moderated from 8.26 per cent in October 2019.

At the start of financial year 2019-20, credit expanded by 11.9 per cent in April 2019.

Agriculture, industry and the services segment saw credit expansion pace losing steam in November 2019. Only retail loans covering home, personal and credit cards held steady with double-digit

Topics : non-food credit Reserve Bank of India

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