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Commercial banks' non-food credit rises by 8.9%: RBI

 The Hawk |  2015-05-30 07:09:39.0  0  Comments

ags: Non-food credit, commercial banks, RBI data, RBI, bank credit Mumbai: Non-food credit of scheduled commercial banks rose by 8.9 percent on a year-on-year basis to Rs 60,41,400 crore in April, according to RBI data released on Friday. Non-food credit growth was 14.2 percent in the same period last year. Data on sectoral deployment of bank credit is collected on a monthly basis from select 46 scheduled commercial banks, accounting for about 95 percent of the total non-food credit deployed by all scheduled commercial banks. The bank's advances to agriculture and allied activities increased by 14.1 percent in April 2015, down from 14.8 percent in April 2014. Credit to industry increased by 6.4 percent as compared to an increase of 12.3 percent during the same period last year. "Deceleration in credit growth to industry was observed in all major sub-sectors," RBI said. Loans to the services sector rose by 7.5 percent in the month as compared with an increase of 17 percent in the year-ago period. Credit to NBFCs marginally surged by 3.3 percent in the period as against an increase of 19.8 percent last year. Personal loans were up by 13.3 percent as compared to an increase of 15.1 percent last year, RBI added. PTI

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