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 October 2018 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 13.4 per cent in October 2018 as compared with an increase of 6.6 per cent in October 2017.

• Credit to agriculture and allied activities increased by 8.0 per cent in October 2018 as compared with an increase of 5.5 per cent in October 2017.

• Credit to industry rose by 3.7 per cent in October 2018 as against a contraction of 0.2 per cent in October 2017. Credit growth to ‘infrastructure’, ‘all engineering’, ‘chemical and chemical products’ and ‘food processing’ accelerated. However, credit to ‘basic metal & metal product’, ‘cement & cement products’, ‘gems & jewellery’ and ‘paper & paper products’ contracted.

• Credit to the services sector expanded by 27.4 per cent in October 2018 as compared with 9.4 per cent in October 2017.

• Personal loans increased by 16.8 per cent in October 2018 as compared with 16.0 per cent in October 2017.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1260