Mumbai, May 3 (KNN) On a year-on-year (y-o-y) basis, credit to industry increased by 13.1 per cent in March 2014 as compared with the increase of 15.1 per cent in March 2013, said RBI.

“Deceleration in credit growth was observed in respect of mining and quarrying, textiles, wood and wood products, petroleum and coal product, chemical and chemical products, glass and glassware, cement and cement products, basic metals, engineering, gems and jewellery and infrastructure,” RBI said in its Sectoral Deployment of Bank Credit for March.

Credit to the services sector increased by 16.1 per cent in March 2014 as compared with the increase of 12.6 per cent in March 2013.

Credit to the non-food bank credit increased by 14.3 per cent in March 2014 as compared with the increase of 13.5 per cent in March 2013.

Credit to agriculture and allied activities increased by 13.5 per cent in March 2014 as compared with the increase of 7.9 per cent in March 2013.

Credit to Non-Banking Financial Companies (NBFCs) increased by 13.2 per cent in March 2014 as compared with the increase of 11.6 per cent in March 2013, said RBI said.

Personal loans increased by 15.5 per cent in March 2014 as compared with the increase of 14.7 per cent in March 2013. (KNN/SD)