Credit growth to industry slows to 15.2% in Jan
"Deceleration in credit growth to industry was observed in all the major sub-sectors, barring chemicals and chemical products, petroleum, coal products and nuclear fuels, beverages and tobacco, leather and leather products, wood and wood products, rubber, plastic and their products, and cement and cement products," the RBI said in a release here.
The central bank said non-food bank credit rose 14.6 per cent in January compared to 15.9 per cent a year ago.
However, data show that credit to agriculture sector grew significantly in the reporting month compared to the corresponding period last year.
"Credit to agriculture increased by 19.8 per cent in January, up from 6.3 per cent in January 2012," it said. Credit to the services sector also saw a slower growth of 12 per cent against 15.1 per cent Y-o-Y.
The pace of credit from banks to NBFCs dropped to 21.6 per cent in this period compared to 30.6 per cent last year. Meanwhile, personal loans increased 13.5 per cent from 13.2 per cent a year ago.
Be the first to comment.