Banks’ non-food credit grew at 11.3% in April 2022 as compared with 4.7% in the year-earlier month, RBI data showed on Tuesday.
Loans to agriculture and allied activities continued to grow at 10.6% in April as against a rise of 10.7% in the year-earlier month, according to the RBI’s Sectoral Deployment of Bank Credit – April 2022.
Growth in advances to industry stood at 8.1% in the month from a contraction of 0.4% in April 2021.
Size-wise, credit to medium industries registered a growth of 53.5% in April 2022 as against 44.8% last year.
Credit to micro and small industries rose 29% from 8.7%, while credit to large industries recorded a growth of 1.6% against a contraction of 3.6% in April 2021, the data showed.
Within industry, growth in advances to all engineering, beverage and tobacco, chemicals and chemical products, food processing, gems and jewellery, infrastructure, leather and leather products, mining and quarrying, petroleum, coal products and nuclear fuels, rubber, plastic and their products and vehicles, vehicle parts and transport equipment segments accelerated in April 2022 as compared with the year-ago month.
However, credit growth to basic metal and metal products, cement and cement products, construction, glass and glassware, paper and paper products, textiles and wood and wood products decelerated.
Credit to the services sector increased 11.1% in April 2022 as compared to 2.4% in the year-earlier month, mainly due to NBFCs, trade, tourism, hotels and restaurants and transport operators.
Personal loans segment continued to perform well, registering a growth of 14.7% from 12.1% in April 2021, primarily driven by housing and vehicle loans.
