Non-food bank credit growth decelerated to 5.8% in Sept
Non-food bank credit growth decelerated to 5.8 per cent in September 2020 from 8.1 per cent in the same month of the previous year, according to the RBI data
Non-food bank credit growth decelerated to 5.8 per cent in September 2020 from 8.1 per cent in the same month of the previous year, according to the RBI data.
Credit to industry recorded 'nil' growth in September 2020 as compared with 2.7 per cent growth in September 2019,? the data on Sectoral Deployment of Bank Credit - September 2020, released by the Reserve Bank of India showed.
Within industry, credit to food processing, petroleum, coal products & nuclear fuels, leather & leather products, wood & wood products, and paper & paper products registered accelerated growth in September 2020 as compared with the growth in the corresponding month of the previous year.
However, credit growth to beverage & tobacco, construction, infrastructure, rubber plastic & their products, chemical & chemical products, glass & glassware and all engineering decelerated or contracted, RBI data said.
Credit to agriculture and allied activities rose by 5.9 per cent during the reporting month as compared with a growth of 7 per cent in the same month of the last year.
Bucking the downtrend, credit growth to the services sector accelerated to 9.1 per cent in September 2020 from 7.3 per cent in September 2019, it said.
Within this sector, credit to computer software, trade and tourism, hotels & restaurants registered accelerated growth in September 2020 vis-?-vis the growth in the corresponding month of the previous year.
See Zee Business Live TV Streaming Below:
Personal loans registered a growth of 9.2 per cent in the month as compared with 16.6 per cent growth in September 2019. Within this sector, vehicle loans continued to perform well, registering accelerated growth in September 2020 vis-a-vis the growth in the corresponding month of the previous year, the data showed.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Mutual Fund SIP: Invest Rs 1000 per month to grow your corpus to over Rs 3.5 core at retirement, know calculations
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
09:16 AM IST