Credit growth shows deceleration for some small sectors
Updated: Mar 05, 2014 04:10:41pm
Mumbai, Mar 5 (KNN) Credit growth to industries with large presence of small scale sector such as gems and jewellery, basic metals, engineering, beverages and tobacco, textiles, chemical and chemical products and cement products decelerated in January 2014 while credit to the industry increased at a lower pace of 13.6 per cent as compared 17.2 per cent a year ago.
“Deceleration in credit growth was observed in mining and quarrying, petroleum and coal products, gems and jewellery, basic metals, engineering, beverages and tobacco, textiles, chemical and chemical products, infrastructure and cement and cement products,” said the Reserve Bank of India (RBI).
On a year-on-year (y-o-y) basis, “Credit to the services sector increased by 17.3 per cent in January 2014 as compared with the increase of 10.6 per cent in January 2013,” RBI said in its release on Sectoral Deployment of Bank Credit – January 2014.
Credit to Non-Banking Financial Companies (NBFCs) increased by 13.4 per cent in January 2014 as compared with the increase of 15.8 per cent in January 2013.
Personal loans increased by 16.5 per cent in January 2014 as compared with the increase of 14.5 per cent in January 2013.
On y-o-y basis, non-food bank credit increased by 15.0 per cent in January 2014 as compared with the increase of 15.1 per cent in January 2013.
Credit to agriculture and allied activities increased by 13.2 per cent in January 2014 as compared with the increase of 17.1 per cent in January 2013. (KNN/SD)
“Deceleration in credit growth was observed in mining and quarrying, petroleum and coal products, gems and jewellery, basic metals, engineering, beverages and tobacco, textiles, chemical and chemical products, infrastructure and cement and cement products,” said the Reserve Bank of India (RBI).
On a year-on-year (y-o-y) basis, “Credit to the services sector increased by 17.3 per cent in January 2014 as compared with the increase of 10.6 per cent in January 2013,” RBI said in its release on Sectoral Deployment of Bank Credit – January 2014.
Credit to Non-Banking Financial Companies (NBFCs) increased by 13.4 per cent in January 2014 as compared with the increase of 15.8 per cent in January 2013.
Personal loans increased by 16.5 per cent in January 2014 as compared with the increase of 14.5 per cent in January 2013.
On y-o-y basis, non-food bank credit increased by 15.0 per cent in January 2014 as compared with the increase of 15.1 per cent in January 2013.
Credit to agriculture and allied activities increased by 13.2 per cent in January 2014 as compared with the increase of 17.1 per cent in January 2013. (KNN/SD)
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