Non-food bank credit up 11.3% to Rs 80.25 trn in September: RBI

Loans to agriculture and allied activities increased by 5.8% in the reporting month, the same rate as in September 2017

Non-food bank credit of scheduled commercial banks rose 11.3 per cent to Rs 80.25 trillion in September 2018 as compared to an increase of 6.1 per cent in the same month last year, RBI data showed.

Loans to agriculture and allied activities increased by 5.8 per cent in the reporting month, the same rate as in September 2017.

Advances to the services sector expanded by 24 per cent as compared with 7 per cent in September 2017.

Credit to industry rose by 2.3 per cent as against the contraction of 0.4 per cent in September 2017, recent RBI data showed.

 

Credit growth to infrastructure, textiles, chemical and chemical products and all engineering accelerated. "However, credit growth to basic metal & metal product, cement & cement products, gems & jewellery and paper & paper products contracted/decelerated," RBI said.

Personal loans grew by 15.1 per cent in September 2018 as compared with 16.8 per cent in the year-ago month.