Non Food Bank Credit

Ind-Ra said the credit expansion of (Rs 6.1 trillion) does not seem like a stretch goal, given the level of economic activity in the system

Within this space, vehicle loans continued to perform well, growing at an accelerated 10% this November, compared to 4.7% a year ago, RBI said in statement

Bankers said the tepid credit off-take was reflection of elongated economic slowdown and demand

Non-food credit growth of banks slowed to 7.2 per cent to Rs 86.73 lakh crore in November, according to the latest data from the Reserve Bank of India. The credit had grown 13.8 per cent to Rs 80.93 lakh crore in the corresponding month of the previous year. Credit growth to industry fell to 2.4 per cent to Rs 27.72 lakh crore in November 2019 from 4 per cent in the corresponding month of 2018. "Within industry, credit growth to food processing, textiles, gems & jewellery, chemicals & chemicals products, infrastructure and construction decelerated/contracted," the RBI said in a release on Tuesday. However, credit growth to rubber, plastic and their products and cement and cement products accelerated during the month. Loans to agriculture and allied activities slowed to 6.5 per cent in November 2019 from 7.7 per cent last year. Advances to the services sector decelerated sharply to 4.8 per cent from 28.1 per cent last year. Personal loans grew at a marginally lower rate of 16.4

Services sector loans expanded by 26.7% in Aug 2018, compared with 5% in Aug last year