Data on sectoral deployment of bank credit collected from select 39 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 March 2020 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 growth decelerated to 6.7 per cent in March 2020 from 12.3 per cent in March 2019.

• Credit growth to agriculture & allied activities decelerated to 4.2 per cent in March 2020 from 7.9 per cent in March 2019.

• Credit growth to industry decelerated to 0.7 per cent in March 2020 from 6.9 per cent in March 2019. Within industry, credit growth to ‘beverage & tobacco’, ‘mining & quarrying’, ‘petroleum, coal product & nuclear fuels’ and ‘rubber, plastic & their products’ accelerated. However, credit growth to ‘chemicals & chemical products’, ‘cement & cement products’, ’construction’, ‘all engineering’, ‘glass & glassware’, ‘gems & jewellery’ and ‘infrastructure’ decelerated/contracted.

• Credit growth to the services sector decelerated sharply to 7.4 per cent in March 2020 from 17.8 per cent in March 2019.

• Personal loans growth decelerated moderately to 15.0 per cent in March 2020 from 16.4 per cent in March 2019.

Ajit Prasad
Director   

Press Release: 2019-2020/2298

¹ Data for March 2020 have been revised in light of modified returns submitted by two banks.