April Non-Food Bank Credit Grows 14 Pct to Rs.56 Lakh Crore
By PTI
MUMBAI: Non-food credit of scheduled commercial banks rose 14.2 percent to Rs.55.83 lakh crore in April, according to the RBI data. Non-food credit in the similar period in 2013 had increased by 14 percent. The credit to agriculture sector by banks rose by 14.8 percent in the reporting month, up from 10.6 percent in the same period last year. Bank credit to industry expanded 12.3 percent in the month compared to 15.6 percent growth in the corresponding period last year.
"Deceleration in credit growth to industry was observed in all the major sub-sectors, barring mining and quarrying, beverage and tobacco, rubber, plastic and their products, petroleum, coal products and nuclear fuels, leather and leather products, glass and glassware, vehicles and construction," RBI said. Credit to the services sector surged 17.1 percent compared with an increase of 11.3 percent last April, while credit to NBFCs shot up 19.3 percent in April as against a growth of 3.9 percent a year ago. Personal loans rose 14.5 percent in the month as compared with the increase of 15.6 percent.
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