By Rbiptilast Updated
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Bank credit to industry expanded at 4.9 per cent in the fortnight ended May 30, against 8.9 per cent growth in the corresponding period of the previous year, the Reserve Bank said on Monday. The RBI has released the data on sectoral deployment of bank credit for May 2025 collected from 41 select scheduled commercial banks (SCBs), accounting for about 95 per cent of the total non-food credit by all commercial banks. On a year-on-year (y-o-y) basis, non-food bank credit as on the fortnight ended May 30, 2025, grew by 9.8 per cent as compared to 16.2 per cent during the corresponding fortnight of the previous year (May 31, 2024). “Credit to industry recorded a y-o-y growth of 4.9 per cent, compared with 8.9 per cent in the corresponding fortnight of the previous year. Among major industries, outstanding credit to ‘all engineering’, ‘construction’ and ‘rubber, plastic and their products’ recorded an accelerated y-o-y growth,” it said. According to the data, credit to agriculture and allied activities registered a y-o-y growth of 7.5 per cent as against 21.6 per cent in the corresponding fortnight of the previous year.Live Events RBI further said credit to the services sector moderated to 9.4 per cent y-o-y (20.7 per cent in the corresponding fortnight of the previous year), primarily due to decelerated growth in credit to ‘non-banking financial companies’ (NBFCs). On the other hand, credit growth to ‘computer software’ segment remained robust. Further, credit to personal loans segment registered a y-o-y growth of 13.7 per cent compared with 19.3 per cent a year ago, largely due to moderation in growth of ‘other personal loans’, ‘vehicle loans’ and ‘credit card outstanding’.(You can now subscribe to our Economic Times WhatsApp channel)
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onBank credit growthReserve Bank of Indiapersonal loans growthrbiCommercial bank(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless