Banks’ non-food credit score grew at 11.3 per cent in April 2022 as in comparison with 4.7 per cent a 12 months in the past, RBI information confirmed on Tuesday.
Loans to agriculture and allied actions continued to develop at 10.6 per cent in April as in opposition to an increase of 10.7 per cent within the year-ago month, in accordance with the RBI’s Sectoral Deployment of Bank Credit – April 2022.
Growth in advances to trade stood at 8.1 per cent within the month from a contraction of 0.4 per cent in April 2021.
Size-wise, credit score to medium industries registered a progress of 53.5 per cent in April 2022 as in opposition to 44.8 per cent final 12 months.
Credit to micro and small industries rose 29 per cent from 8.7 per cent, whereas credit score to giant industries recorded a progress of 1.6 per cent in opposition to a contraction of three.6 per cent in April 2021, the info confirmed.
Within trade, progress in advances to all engineering, beverage and tobacco, chemical compounds and chemical merchandise, meals processing, gems and jewelry, infrastructure, leather-based and leather-based merchandise, mining and quarrying, petroleum, coal merchandise and nuclear fuels, rubber, plastic and their merchandise and automobiles, car components and transport tools segments accelerated in April 2022 as in comparison with the year-ago month.
However, credit score progress to fundamental metallic and metallic merchandise, cement and cement merchandise, building, glass and glassware, paper and paper merchandise, textiles and wooden and wooden merchandise decelerated.
Credit to the providers sector elevated 11.1 per cent in April 2022 as in comparison with 2.4 per cent a 12 months in the past, primarily resulting from NBFCs, commerce, tourism, accommodations and eating places and transport operators.
Personal loans section continued to carry out properly, registering a progress of 14.7 per cent from 12.1 per cent in April 2021, primarily pushed by housing and car loans.
Source: www.financialexpress.com”