Credit to retail, industry accelerates in August, slows in services sector

Loans for farming and allied activities continued to perform well, up 11.3% this August from 4.8% a year ago

Keeping up with the upturn in economic activity, bank credit, especially to the retail sector and to industry, gathered pace in August 2021. The retail segment showed an accelerated growth of 12.1 per cent in August 2021 as compared to 8.5 per cent a year ago on higher volume in housing and vehicle credit, according to Reserve Bank of India data.

The credit to industry rose by 2.3 per cent in August 2021 from 0.4 per cent in August 2020, according to Reserve Bank of India data.

The credit to agriculture and allied activities continued to perform well, registering an