Sectoral Deployment of Bank Credit – March 2020

Shri Natarajan Chandrasekaran re-nominated as part-time non-official Director on Central Board of Reserve Bank of India
Shri Natarajan Chandrasekaran re-nominated as part-time non-official Director on Central Board of Reserve Bank of India
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

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