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 November 2019 are set out in Statement 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 7.2 per cent in November 2019 from 13.8 per cent in November 2018.

• Credit to agriculture & allied activities slowed down to 6.5 per cent in November 2019 from 7.7 per cent in November 2018.

• Credit growth to industry decelerated to 2.4 per cent in November 2019 from 4.0 per cent in November 2018. Within industry, credit growth to ‘food processing’, ‘textiles’, ‘gems & jewellery’, ‘chemicals & chemicals products’, ‘infrastructure’ and ‘construction’ decelerated/contracted. However, credit growth to ‘rubber, plastic & their product’ and ‘cement & cement products’ accelerated.

• Credit growth to the services sector decelerated sharply to 4.8 per cent in November 2019 from 28.1 per cent in November 2018.

• Personal loans grew at a marginally lower rate of 16.4 per cent in November 2019 as compared with 17.2 per cent in November 2018.

Ajit Prasad
Director  

Press Release: 2019-2020/1559