Data on sectoral deployment of bank credit collected from select 41 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of December 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 10.0 per cent in December 2017 as compared with an increase of 4.0 per cent in December 2016.

• Credit to agriculture and allied activities increased by 9.5 per cent in December 2017, in comparison with the increase of 8.2 per cent in December 2016.

• Credit to industry increased by 2.1 per cent in December 2017 as compared with a contraction of 4.3 per cent in December 2016. Credit to major sub-sectors such as ‘infrastructure’, ‘petroleum, coal products & nuclear fuels’, ‘basic metal & metal products’ and ‘mining & quarrying’ contracted/declined. However, credit growth to ‘textiles’, ‘chemical & chemical products’, ‘all engineering’, ‘food processing’ and ‘construction’ accelerated.

• Credit to the services sector increased by 14.7 per cent in December 2017, up from 8.3 per cent in December 2016.

• Personal loans increased by 18.9 per cent in December 2017 as compared with the increase of 13.5 per cent in December 2016.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/2081