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Banks’ non-food credit jumped 18.2 per cent in September as against a jump of 15.9 per cent in the same month last year, according to the Reserve Bank data.
However, credit to the agriculture sector rose at a low pace of 13.2 per cent in September as compared with an increase of 19.6 per cent in September 2012, according to the sectoral deployment of bank credit released by the RBI.
The RBI report said in September 2013, bank credit to the industry rose by a healthy 17.6 per cent compared with the increase of 17 per cent in the year-ago period.
“Acceleration in credit growth to industry was observed in all the major sub-sectors, barring engineering, construction, glass and glassware and mining and quarrying,” the RBI said.
Bank loans to the services sector increased by 22.1 per cent in September compared with 14.4 per cent in September 2012.
In the period under review bank credit to the non-banking financial companies also declined to 26.6 per cent as against 28.4 per cent in September 2012.
Personal loans increased 17.9 per cent in September as compared with the increase of 13 per cent in the same month last year, the RBI said.
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