The Reserve Bank of India (RBI) released the bank lending sector rollout on Friday – September 2021.
Credit growth to industry accelerated to 2.5% in September 2021, from 0.4% in September 2020.
In terms of size, credit to medium-sized industries saw robust growth of 49% in September 2021, up from 17.5% last year.
“Credit to micro and small industries accelerated to 9.7% in September 2021, down from a contraction of 0.1% a year ago,” the data showed.
Advances to large industries continued to contract 1% in September 2021, compared to a 0.2% contraction a year ago.
Credit growth to the service sector slowed to 0.8% in September 2021 from 9.2% in September 2020, mainly due to the contraction in loan growth to NBFCs, commerce and commercial real estate, he indicated.
Personal loans saw accelerated growth of 12.1% in September 2021 from 8.4% a year ago, mainly due to faster growth in home loans, car loans and loans against jewelry in gold, he said.