Non-food credit up 13% in June to Rs 56,39,000 crore
   
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Non-food credit up 13% in June to Rs 56,39,000 crore

Last Updated: Thursday, July 31, 2014, 21:03
 
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Non-food credit up 13% in June to Rs 56,39,000 crore
Mumbai: Non-food credit of scheduled commercial banks rose 13 percent year-on-year for the second time in row in June to Rs 56,39,000 crore from Rs 49,91,800 crore in the same period last year.

In June last year, non food credit had risen 13.5 percent, the Reserve Bank data on sectoral deployment of bank credit showed.

Credit to agriculture rose by 18.8 percent to Rs 7,18,600 crore in the reporting month, up from 10 percent in June 2013.

Banks' lending to industry increased by 10.3 percent in the month as compared with an increase of 14.2 percent in the same period last year.

Deceleration in credit growth to industry was observed in most major sub-sectors, barring mining and quarrying, beverage and tobacco, leather and leather products, rubber, plastic and their products, glass and glassware, and construction, the central bank said.

Services sector saw an increase of 13.8 percent in June as compared with the increase of 12 percent in the year ago month.

Credit to NBFCs increased by 16.3 percent in June from an increase of 1.3 percent in the same period last year.

Personal loans rose 14.6 percent in reporting month as compared with the increase of 16.2 percent in the corresponding period last year, the RBI data showed.


PTI

First Published: Thursday, July 31, 2014, 21:03


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