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Non-food bank credit grows at 6.8% in September: RBI data

Credit growth to industry picked up to 2.5 percent in September 2021 from 0.4 percent in September 2020.

October 29, 2021 / 08:00 PM IST
Reserve Bank of India

Reserve Bank of India

Banks' non-food credit growth accelerated to 6.8 percent in September 2021 as against a rise of 5.1 percent in the same period of last year, RBI data showed.

Loans to agriculture and allied activities registered a higher growth of 9.9 percent in September 2021 as compared to 6.2 percent in the year-ago period.

The Reserve Bank of India (RBI) Friday released Sectoral Deployment of Bank Credit September 2021.

Credit growth to industry picked up to 2.5 percent in September 2021 from 0.4 percent in September 2020.

Size-wise, credit to medium industries registered a robust growth of 49 percent in September 2021 as compared to 17.5 percent last year.

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"Credit to micro and small industries accelerated to 9.7 percent in September 2021 from a contraction of 0.1 percent a year ago," the data showed.

Advances to large industries continued to contract at one percent in September 2021 as compared to a contraction of 0.2 percent a year ago.

Credit growth to the services sector decelerated to 0.8 percent in September 2021 from 9.2 percent in September 2020, mainly due to contraction in loan growth to NBFCs, trade and commercial real estate, it said.

Personal loans registered an accelerated growth of 12.1 percent in September 2021 as compared to 8.4 percent a year ago, primarily due to faster credit growth in housing, vehicle loans, and loans against gold jewellery, it said.



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PTI
first published: Oct 29, 2021 08:00 pm
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