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Bank credit increased by 14.4% in February on a year-on-year (y-o-y) basis compared with an increase of 15.4% in February 2012, shows Reserve Bank of India (RBI) data on sectoral deployment of bank credit.
Credit to industry increased by 14.7% y-o-y in February as compared with the increase of 19.1% in February 2012. Deceleration in credit growth to industry was observed in all the major sub-sectors, barring beverage and tobacco, leather and leather products, wood and wood products, petroleum, coal products and nuclear fuels, cement and cement products, chemicals and chemical products and infrastructure.
The data showed that credit to agriculture increased by 18.4% in February, up from 8.0% in February 2012. As per the data credit to the services sector increased by 12.7% in February 2013 as compared with the increase of 14.7% in February 2012.
Credit to non-banking finance companies increased by 16.6% in February compared with the increase of 30.9% in February 2012. Personal loans increased by 13.5% in February as compared with the increase of 12.2% in February 2012.
