Bank Credit to Services Sector Surges 28.3% in September, Industry and Agriculture Grow 19.5%: RBI

New Delhi, Oct 31 (KNN) Bank lending to India's services, industrial and agricultural sectors accelerated in September 2026, with services credit growing 28.3 per cent and industrial and agricultural credit both expanding 19.5 per cent year-on-year (YoY), according to data released by the Reserve Bank of India (RBI) on Friday.

Overall non-food bank credit grew 19.1 per cent YoY as of September 30, compared with 11.2 per cent in the corresponding period last year.

According to the RBI's Sectoral Deployment of Bank Credit data released on Friday, services sector lending increased from 9.9 per cent growth a year earlier, supported by strong credit expansion to non-banking financial companies (NBFCs), trade, commercial real estate, transport operators and professional services.

Industrial and Agricultural Lending Accelerates

Credit to industry rose 19.5 per cent, compared with 7.7 per cent in the corresponding period last year. The RBI said lending to large and medium industries accelerated, while credit growth to micro and small industries remained steady.

Among major industrial segments, infrastructure, basic metals and metal products, engineering, chemicals, food processing and textiles recorded strong credit growth.

Agriculture and allied activities registered 19.5 per cent credit growth, up from 8.9 per cent a year earlier.

Personal Loan Growth Also Strengthens

Personal loans grew 17.3 per cent YoY, compared with 11.5 per cent in the corresponding period last year.

The RBI said housing and vehicle loans remained resilient, while advances against fixed deposits accelerated. However, growth in loans against gold jewellery and education loans moderated compared with the previous year, although it remained strong.

The sectoral credit data were collected from 41 scheduled commercial banks, accounting for around 95 per cent of total non-food credit extended by scheduled commercial banks.

(KNN Bureau)