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Credit to agriculture rises by 16.8% in May 2014: RBI

Credit to industry increased by 11.4 per cent in May 2014 as compared with the increase of 15.9 per cent in May 2013

July 02, 2014 10:19 IST | India Infoline News Service

On a year-on-year (y-o-y) basis, non-food bank credit increased by 13.0 per cent in May 2014 as compared with the increase of 15.3 per cent in May 2013.

Credit to agriculture increased by 16.8 per cent in May 2014, up from 11.7 per cent in May 2013.

Credit to industry increased by 11.4 per cent in May 2014 as compared with the increase of 15.9 per cent in May 2013. Deceleration in credit growth to industry was observed in all the major sub-sectors, barring mining and quarrying, beverage and tobacco, petroleum, coal products and nuclear fuels, rubber, plastic and their products, glass and glassware, cement and cement products, vehicles and construction.

Credit to the services sector increased by 13.6 per cent in May 2014 as compared with the increase of 14.5 per cent in May 2013.

Credit to NBFCs increased by 19.7 per cent in May 2014 as compared with the increase of 1.9 per cent in May 2013.

Personal loans increased by 14.0 per cent in May 2014 as compared with the increase of 17.1 per cent in May 2013.

Data on sectoral deployment of credit collected on a monthly basis from select 47 scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of May 2014.

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