Banks’ non-food credit grows by 11.3% in Sept

Source: The Hitavada      Date: 03 Nov 2018 11:24:25


 

Business Bureau,

NON-FOOD bank credit of schedule commercial banks rose 11.3 per cent to Rs 80.25 lakh crore 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 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.