Non-food bank credit increases 6.2% in July 2021, according to RBI data

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Non-food bank lending rose 6.2% in July 2021, up from 6.4% a year ago, according to RBI data.

Advances in agriculture and related activities continued to perform well, registering accelerated growth of 12.4% in the base month, up from 5.4% in July 2020, according to RBI deployment data. July 2021 bank credit sector published on Tuesday.

Credit growth to industry remained subdued at 1% in July 2021 from 0.9% in the previous year period, the data showed.

In terms of size, credit to medium-sized industries saw robust growth of 71.6% in July 2021, down from a contraction of 1.8% a year ago.

Credit to micro and small industries accelerated to 7.9% in July 2021 from a contraction of 1.8% a year ago, while credit to large industries contracted by 2.9% against a growth of 1.4% from a year ago, according to the data.

Credit growth to the service sector slowed to 2.7% in July 2021 from 12.2%, mainly due to decelerating growth in credit to NBFCs and commercial real estate.

Personal loans saw accelerated growth of 11.2% in July 2021, up from 9% a year ago, mainly due to higher growth in loans against gold jewelry and auto loans, data shows .

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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