According to the data on sectoral deployment of bank credit till the end of February, export credit contracted 14% year-on-year to Rs 21925 crore while consumer loans contracted 10% to Rs 10270 crore. However, both these heads taken together accounted for merely 0.2% of the total bank credit.
Gold loans, on the other hand, expanded 128% to Rs 4.29 lakh crore, reflecting the highest rate of credit expansion among all sectors. Gols loans accounted for 2% of the total bank credit of Rs 207.54 lakh crore.
Overall, non-food bank credit grew by 14.3% year-on-year at the end of fortnight to February 28, compared with 11.1% growth recorded in the corresponding fortnight of the previous year to March 07, 2025.
Credit to agriculture and allied activities registered a 12.3% growth against 11.4% earlier. Credit to industry recorded 13.5% growth as compared with 7.5% earlier, largely fuelled by higher lending to infrastructure, engineering, chemicals and chemical products and textiles, RBI said.
Credit to services sector registered a growth rate of 16.3% against 11.7% in the same period last year, supported by higher growth in bank lending to non-banking financial companies (NBFCs) and commercial real estate.
Gold loans, on the other hand, expanded 128% to Rs 4.29 lakh crore, reflecting the highest rate of credit expansion among all sectors. Gols loans accounted for 2% of the total bank credit of Rs 207.54 lakh crore.
Overall, non-food bank credit grew by 14.3% year-on-year at the end of fortnight to February 28, compared with 11.1% growth recorded in the corresponding fortnight of the previous year to March 07, 2025.
Credit to agriculture and allied activities registered a 12.3% growth against 11.4% earlier. Credit to industry recorded 13.5% growth as compared with 7.5% earlier, largely fuelled by higher lending to infrastructure, engineering, chemicals and chemical products and textiles, RBI said.
Credit to services sector registered a growth rate of 16.3% against 11.7% in the same period last year, supported by higher growth in bank lending to non-banking financial companies (NBFCs) and commercial real estate.
