Non-food credit growth slides to 7% in Dec 19 from 12.8% a year ago

Reserve Bank of India on Friday said that pace of non-food credit expansion, on year-on-year basis, moderated sharply to seven per cent in December 2019 from 12.8 per cent in December 2018.

All four categories – agriculture, industry, services and retail – segments showed deceleration in credit growth.

The Y-o-Y growth in credit to agriculture & allied was down to 5.3 per cent in December 2019 from 8.4 per cent in December 2018.

Credit growth to industry decelerated to 1.6 per cent in December 2019 from 4.4 per cent in December 2018. Within industry, credit growth to segments like cement