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Non-food bank credit grows at 5.9% in December: RBI

Loans to industry contracted by 1.2 percent as compared with 1.6 percent growth, mainly due to contraction in credit to large industries by 2.4 percent as compared with 1.8 percent growth a year ago.

January 29, 2021 / 09:53 PM IST
RBI

RBI

Non-food credit growth of banks stood at 5.9 percent in December 2020 as compared to 7 percent in the same month of the previous year, RBI data showed.

During the reporting month, growth in credit to agriculture and allied activities accelerated to 9.4 percent from 5.3 percent in December 2019, the data on sectoral deployment of bank credit for December 2020, released by Reserve Bank of India (RBI), showed.

Loans to industry contracted by 1.2 percent as compared with 1.6 percent growth, mainly due to contraction in credit to large industries by 2.4 percent as compared with 1.8 percent growth a year ago.

Credit to medium industries registered a robust growth of 15.3 percent as compared to 2.5 percent a year ago; and credit to micro and small industries registered an accelerated growth of 1.2 percent in the reporting month as compared to 0.1 percent a year ago, the data showed.