Non-food bank credit increased by 6.9 pc in October (RBI data)

0


Growth in credit to industry climbed to 4.1% in October 2021 from a contraction of 0.7% in October 2020. In terms of size, credit to medium-sized industries recorded robust growth of 48.6% in October 2021 against 20.8%. hundred last year.

Growth in non-food bank loans accelerated to 6.9% in October from 5.2% in the same month last year, according to RBI data. Loans to agriculture and related activities continued to perform well, registering accelerated growth of 10.2% in October 2021 from 7.2% in October 2020, according to RBI data on sectoral deployment of bank credit – October 2021, published Tuesday.

Growth in credit to industry climbed to 4.1% in October 2021 from a contraction of 0.7% in October 2020. In terms of size, credit to medium-sized industries recorded robust growth of 48.6% in October 2021 against 20.8%. hundred last year.

Progress in micro and small industries accelerated to 11.9% in October 2021, down from 0.7% a year ago. Credit growth to major industries stood at 0.5% in October 2021, down from a contraction of 1.8% a year ago, the data showed.

The slowdown in credit growth in services continued, falling to 2.9% in October from 8.6% a year ago.

Personal loans continued to grow at a robust rate of 11.7% in October 2021 from 8.7% in October 2020, mainly due to home loans, auto loans and loans against gold jewelry, according to the data.

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.


Share.

About Author

Comments are closed.