Non-food bank credit registered a growth of 17.6 per cent in November 2022 as compared with 7.1 per cent a year ago on the back of robust credit demand from the segments such as services, industry, personal, and agriculture and allied activities, according to RBI’s statement on Sectoral Deployment of Bank Credit.
Credit to services sector registered a growth of 21.3 per cent year-on-year in November 2022 as compared with 3.2 per cent a year ago, primarily due to the improved credit offtake to NBFCs, commercial real estate and trade sectors.
Credit growth to industry accelerated to 13.1 per cent y-o-y in November 2022 from 3.4 per cent in November 2021.
Size-wise, credit to large industry increased by 10.5 per cent as against a contraction of 0.6 per cent a year ago, per the statement.
Medium industries recorded credit growth of 29.7 per cent in November 2022 as compared with 37.4 per cent last year. Credit to micro and small industries rose by 19.6 per cent (15.3 per cent a year ago).
Personal loans up
Personal loans grew by 19.7 per cent y-o-y in November 2022 (12.6 per cent a year ago), largely driven by housing and vehicle loans.
Credit to agriculture and allied activities rose by 13.8 per cent y-o-y in November 2022 as compared with 10.9 per cent a year ago.