PTI
Mumbai
Non-food credit of scheduled commercial banks slowed down to 8.8 per cent in November as against an increase of 10.5 per cent in the same period last year, RBI data showed.
However, the credit growth during the month was slightly higher than 8.3 per cent registered in October.
Advances to industry rose by 5 per cent in the reporting month compared with the increase of 7.3 per cent last year.
“Deceleration in credit growth to industry was observed in all major sub-sectors barring chemical and chemical products and basic metal and metal products,” RBI said in a release here today.
RBI collects the data on sectoral deployment of bank credit on a monthly basis from select 46 scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks.
Loans to agriculture and allied activities slowed by 11.8 per cent compared with the increase of 19.7 per cent a year ago.
Personal loans segment registered a growth of 18 per cent in the month, up from the increase of 15.8 per cent last year.
Advances to the services sector were up by 6.8 per cent compared with the increase of 7.9 per cent in the year-ago period.
