Sectoral Deployment of Bank Credit – July 2018

Data on sectoral deployment of bank credit collected from select 41 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of July 2018 are set out in Statements I and II. Highlights of the sectoral deployment of bank credit are given below: On a year-on-year (y-o-y) basis, non-food bank credit increased by 10.6 per cent in July 2018 as compared with an increase of 5.3 per cent in July 2017. Credit to agriculture and allied activities increased by 6.6 per cent in July 2018 in comparison with an increase of 6.8 per cent in July 2017. Credit to industry rose by 0.3 per cent in July 2018 as against contraction of 0.3 per cent in July 2017. Credit to major sub-sectors such as ‘infrastructure’, ‘textiles’, ‘chemical and chemical products’, ‘food processing’ and ‘all engineering’ accelerated. However, credit to ‘basic metal & metal product’, ‘petroleum, coal products & nuclear fuels’, ‘cement & cement products’ and ‘paper & paper products’ contracted/declined. Credit to the services sector expanded by 23.0 per cent in July 2018 as compared with that of 4.9 per cent in July 2017. Personal loans increased by 16.7 per cent in July 2018, up from an increase of 15.0 per cent in July 2017. Ajit Prasad Assistant Adviser Press Release : 2018-2019/519

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