Non-food bank credit increases 6.8% in September (RBI data)

0
Growth in banks’ non-food credit accelerated to 6.8 percent in September 2021, from a 5.1 percent increase in the same period last year, according to RBI data. Loans to agriculture and related activities recorded a higher growth of 9.9% in September 2021, compared to 6.2% in the period of the previous year.

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.


Source link

Share.

About Author

Leave A Reply