Non-food bank credit rose 9.7% in March 2022, compared to a 4.5% rise reported a year ago, according to RBI.
Agriculture and related lending continued to perform well, growing 9.9 percent in the month under review. It was 10.5% a year ago, according to the RBI’s bank credit sector deployment data for March 2022 released on Friday.
Industrial credit growth accelerated to 7.1% in March 2022, following a contraction of 0.4% in March 2021. In terms of size, credit to medium industries recorded robust growth of 71.4% in March 2022, which was 34.5%. Last year.
Growth in loans to micro and small industries accelerated to 21.5% from 3.9% and credit to large industries recorded marginal growth of 0.9% from a contraction of 2.5% during the the same period last year.
Services credit sector growth accelerated to 8.9% in the reporting month from 3% a year ago, mainly due to a significant improvement in NBFC credit growth ( non-banking financial corporations) and a robust credit drawdown. among trade and transport operators.
The personal loan segment continued to grow at a healthy pace and increased by 12.4% in March 2022, compared to 10.7% in March 2021.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)