Non-food credit demand grew 13.1% in January, says RBI data

Credit to non-financial banking companies remains the fastest growing sector for deployment of bank credit, despite the liquidity crisis

Non-food credit demand rose by 13.1 per cent in January, as against a 9.5 per cent increase during the same period last year. Non-food credit for January stood at ~82 trillion, according to data released by the Reserve Bank of India (RBI) on Friday.

Credit to non-financial banking companies (NBFCs) remains the fastest growing sector for deployment of bank credit, despite the liquidity crisis. Credit to NBFCs saw a 48.3 per cent rise in January, against a growth of 16.1 per cent in the same month in 2018.

Credit growth for the industry increased by 5.1 per cent in January 2019 as