May 31, 2012, 06.52 PM | Source: Reuters

April industry, services sector loan growth slows: RBI

BANK-LOANS-RBI:April industry, services sector loan growth slows: RBI

MUMBAI (Reuters) - Credit to industry grew at a slower pace in April, compared with the same period in the previous year, while advances to agriculture grew faster, data from the Reserve Bank of India on Thursday showed.

Credit to industry rose by 19.5 percent during the month, slower than 25.9 percent in the previous year-ago period, while loans to agriculture increased by 14.6 percent, compared with 12 percent growth.

Credit to the services sector also grew at a slower 15.8 percent in April, compared with a 24.1 percent growth in the previous year.

Advances growth to non-bank finance companies slowed to 36.2 percent from 55.7 percent and the commercial real estate sector to 5.8 percent from 21.9 percent.

(Reporting by Shamik Paul; editing by Malini Menon)


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