Non-food credit of scheduled commercial banks rose 13 per cent year-on-year for the second time in row in June to Rs 56,39,000 crore from Rs 49,91,800 crore in the same period last year. 

In June last year, non food credit had risen 13.5 per cent, the Reserve Bank data on sectoral deployment of bank credit showed. 

Credit to agriculture rose by 18.8 per cent to Rs 7,18,600 crore in the reporting month, up from 10 per cent in June 2013. 

Banks' lending to industry increased by 10.3 per cent in the month as compared with an increase of 14.2 per cent in the same period last year. 

Deceleration in credit growth to industry was observed in most major sub-sectors, barring mining and quarrying, beverage and tobacco, leather and leather products, rubber, plastic and their products, glass and glassware, and construction, the central bank said. 

Services sector saw an increase of 13.8 per cent in June as compared with the increase of 12 per cent in the year ago month. 

Credit to NBFCs increased by 16.3 per cent in June from an increase of 1.3 per cent in the same period last year. 

Personal loans rose 14.6 per cent in reporting month as compared with the increase of 16.2 per cent in the corresponding period last year, the RBI data showed.

Leave Your Comment(s)