Credit to industry shrinks 1.9% in Mar 17

In contrast, credit to services sector jumped to 19.5% by the end of March 2017

Reflecting a slowdown in the manufacturing sector, bank credit to industry — large, medium and small — shrunk by 1.9 per cent in FY17 against 2.7 per cent growth in FY16.

In contrast, credit to services sector jumped to 19.5 per cent by the end of March 2017, from 9.1 per cent in March 2016, according to the Reserve Bank of India (RBI).

The pace of growth in personal loans segment, covering areas like housing credit, consumer durables, and credit cards outstanding moderated to 16.7 per cent in March 2017 from 19.4 per cent in March 2016. The credit card outstanding grew