Data on sectoral deployment of bank credit collected from select 33 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 September 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 5.8 per cent in September 2020 from 8.1 per cent in September 2019.

• Credit to agriculture and allied activities increased by 5.9 per cent in September 2020 as compared with a growth of 7.0 per cent in September 2019.

• Credit to industry recorded ‘nil’ growth in September 2020 as compared with 2.7 per cent growth in September 2019.

• Within industry, credit to ‘food processing’, ‘petroleum, coal products & nuclear fuels’, ‘leather & leather products’, ‘wood & wood products’, and ‘paper & paper products’ registered accelerated growth in September 2020 as compared with the growth in the corresponding month of the previous year. However, credit growth to ‘beverage & tobacco’, ‘construction’, ‘infrastructure’, ’rubber plastic & their products’, ‘chemical & chemical products’, ‘glass & glassware’ and ‘all engineering’ decelerated/contracted.

• Bucking the downtrend, credit growth to the services sector accelerated to 9.1 per cent in September 2020 from 7.3 per cent in September 2019. Within this sector, credit to ‘computer software’, ‘trade’ and ‘tourism, hotels & restaurants’ registered accelerated growth in September 2020 vis-à-vis the growth in the corresponding month of the previous year.

• Personal loans registered a growth of 9.2 per cent in September 2020 as compared with 16.6 per cent growth in September 2019. Within this sector, vehicle loans continued to perform well, registering accelerated growth in September 2020 vis-a-vis the growth in the corresponding month of the previous year.

Ajit Prasad
Director  

Press Release: 2020-2021/568