Data on sectoral deployment of bank credit collected from select 41 scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of July 2017 are set out in Statements I and II.

Highlights of the sectoral deployment of bank credit are given below:

• On a year-on-year (y-o-y) basis, non-food bank credit increased by 5.3 per cent in July 2017 as compared with an increase of 8.3 per cent in July 2016.

• Credit to agriculture and allied activities increased by 6.8 per cent in July 2017, lower than the increase of 13.4 per cent in July 2016.

• Credit to industry contracted by 0.3 per cent in July 2017 in contrast with an increase of 0.6 per cent in July 2016. Credit growth to major sub-sectors such as ‘infrastructure’, ‘basic metal & metal products’, ‘textiles’, ‘petroleum, coal products & nuclear fuels’ and ‘all engineering’ witnessed contraction/deceleration. However, credit growth to ‘construction’, ‘cement & cement products’, ‘rubber, plastic & their products’ and ‘beverage & tobacco’ accelerated.

• Credit to the services sector increased by 4.9 per cent in July 2017, lower than the increase of 10.8 per cent in July 2016.

• Personal loans increased by 15.0 per cent in July 2017, lower than the increase of 18.8 per cent in July 2016.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/596