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Sectoral Deployment of Bank Credit - April 2023

Data on sectoral deployment of bank credit for the month of April 20231 collected from 40 select scheduled commercial banks, accounting for about 93 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

On a year-on-year (y-o-y) basis, non-food bank credit2 registered a growth of 16.1 per cent in April 2023 as compared with 11.4 per cent a year ago.

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

  • Credit to agriculture and allied activities improved to 16.7 per cent (y-o-y) in April 2023 from 10.6 per cent a year ago.

  • Credit to industry registered a growth of 7.0 per cent (y-o-y) in April 2023 as compared with 8.0 per cent in April 2022. Size-wise, credit to large industry rose by 5.3 per cent as compared with 1.3 per cent a year ago. Credit growth of medium industries was 19.1 per cent as against 53.7 per cent last year. Credit to micro and small industries registered a growth of 9.7 per cent in April 2023 (29.8 per cent a year ago).

  • Among major industries, credit growth (y-o-y) to ‘basic metal & metal products’ and ‘petroleum, coal products & nuclear fuels’ accelerated in April 2023 as compared with the corresponding month of the previous year. Credit growth to ‘chemicals & chemical products’, ‘food processing’, ‘infrastructure’ and ‘textiles’ decelerated.

  • Credit growth to services sector accelerated to 21.6 per cent (y-o-y) in April 2023 from 11.2 per cent a year ago, primarily due to the improved credit offtake to ‘Non-Banking Financial Companies (NBFCs)’ and ‘trade’.

  • Personal loans growth registered a growth of 19.4 per cent (y-o-y) in April 2023 vis-a-vis 14.4 per cent a year ago, mainly driven by ‘housing loans’ and ‘vehicle loans’.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/310


1 Data pertain to the last reporting Friday of the month.

2 Non-food credit data are based on Section-42 return for the last reporting Friday of the month, which covers all scheduled commercial banks (SCBs).

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