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 October 2019 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 8.3 per cent in October 2019 from 13.4 per cent in October 2018.

• Credit growth to agriculture & allied activities decelerated to 7.1 per cent in October 2019 from 8.0 per cent in October 2018.

• Credit growth to industry decelerated marginally to 3.4 per cent in October 2019 from 3.7 per cent in October 2018. Within industry, credit growth to ‘cement & cement products’, ‘beverage & tobacco’, ‘paper & paper products’ and ‘all engineering’ accelerated. However, credit growth to ‘infrastructure’, ‘food processing’, ‘textiles’, ‘basic metal & metal products’, ‘gems & jewellery’ and ‘chemicals & chemical products’ decelerated/contracted.

• Credit growth to the services sector decelerated sharply to 6.5 per cent in October 2019 from 27.4 per cent in October 2018.

• Personal loans growth accelerated to 17.2 per cent in October 2019 from 16.8 per cent in October 2018.

Ajit Prasad
Director  

Press Release: 2019-2020/1300