Growth in bank credit to industry drop in Nov
Updated: Jan 01, 2014 03:29:52pm
Mumbai, Jan 1 (KNN) Growth in bank credit to the industry declined to 13.7 per cent (Year on Year) in November 2013 from 19.4 per cent in the corresponding period of the previous year, barring the small industry sub-sectors such as rubber, plastic, glass, gems and jewellery.
This is according to the Reserve Bank of India’s statistics collected from select 47 scheduled commercial banks accounting for about 95 per cent of the total non-food credit.
However, deceleration in credit growth was observed in most sub-sectors barring rubber and plastic products, glass and glassware, vehicles, gems and jewellery and construction, RBI said in a statement.
Non-food bank credit rose 14.7 per cent (YOY) in November 2013 compared with 17.6 per cent recorded in the corresponding period of the previous year.
Priority sector loans (including loans to agriculture and allied services, micro credit, export credit, education loans, loans to weaker sections, etc.) grew 24 per cent to Rs 17,14,300 crore.
Personal loans (including consumer durable loans, vehicle loans, education loans, housing, credit card, other personal items), grew 15 per cent to Rs 9,84,400 crore.
Under this category, the fastest growth was recorded by loans to consumer durables which grew 33 per cent to Rs 10,000 crore.
However, the credit card loans reflected a slowdown, declining by 2 per cent. Credit card loans were at Rs 24,100 crore compared with Rs 24700 crore, a year ago.
Vehicle loans grew 20 per cent to Rs 1, 24,000 crore, while housing loans grew 18 per cent to Rs 5, 12,100 crore. (KNN Bureau)
This is according to the Reserve Bank of India’s statistics collected from select 47 scheduled commercial banks accounting for about 95 per cent of the total non-food credit.
However, deceleration in credit growth was observed in most sub-sectors barring rubber and plastic products, glass and glassware, vehicles, gems and jewellery and construction, RBI said in a statement.
Non-food bank credit rose 14.7 per cent (YOY) in November 2013 compared with 17.6 per cent recorded in the corresponding period of the previous year.
Priority sector loans (including loans to agriculture and allied services, micro credit, export credit, education loans, loans to weaker sections, etc.) grew 24 per cent to Rs 17,14,300 crore.
Personal loans (including consumer durable loans, vehicle loans, education loans, housing, credit card, other personal items), grew 15 per cent to Rs 9,84,400 crore.
Under this category, the fastest growth was recorded by loans to consumer durables which grew 33 per cent to Rs 10,000 crore.
However, the credit card loans reflected a slowdown, declining by 2 per cent. Credit card loans were at Rs 24,100 crore compared with Rs 24700 crore, a year ago.
Vehicle loans grew 20 per cent to Rs 1, 24,000 crore, while housing loans grew 18 per cent to Rs 5, 12,100 crore. (KNN Bureau)
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