| 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 March 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 7.6 per cent in March 2020 from 12.3 per cent in March 2019.
- Credit growth to agriculture & allied activities decelerated to 5.2 per cent in March 2020 from 7.9 per cent in March 2019.
- Credit growth to industry decelerated to 1.4 per cent in March 2020 from 6.9 per cent in March 2019. Within industry, credit growth to ‘beverage & tobacco’, ‘mining & quarrying’, ‘petroleum, coal product & nuclear fuels’, ‘cement & cement products’ and ‘vehicles, vehicle parts & transport equipment’ accelerated. However, credit growth to ‘chemical & chemical products’, ‘all engineering’, ‘glass & glassware’, ‘gems & jewellery’ and ‘infrastructure’ decelerated/contracted.
- Credit growth to the services sector decelerated sharply to 8.5 per cent in March 2020 from 17.8 per cent in March 2019.
- Personal loans growth decelerated marginally to 15.7 per cent in March 2020 from 16.4 per cent in March 2019.
Ajit Prasad
Director
Press Release: 2019-2020/2298 |
