Non-food Bank Credit Growth Decelerates To 8.1% In September 2019 From 11.3% In September 2018

According to RBI's data on sectoral deployment of bank credit collected from select 39 scheduled commercial banks, on a year-on-year (y-o-y) basis, non-food bank credit growth decelerated to 8.1% in September 2019 from 11.3% in September 2018. Credit to agriculture & allied activities increased by 7% in September 2019 as compared with an increase of 5.8% in September 2018. Credit growth to industry accelerated to 2.7% in September 2019 from 2.3% in September 2018. Within industry, credit growth to 'infrastructure', 'construction', 'cement & cement products', 'beverage & tobacco', 'paper & paper products' and 'all engineering' accelerated. However, credit growth to 'food processing', 'textiles', 'gems & jewellery' and 'chemicals & chemical products' decelerated/contracted. Credit growth to the services sector decelerated sharply to 7.3% in September 2019 from 24% in September 2018. Personal loans growth accelerated to 16.6% in September 2019 from 15.1% in September 2018.

Powered by Capital Market - Live News