Banks’ non-food credit grew at 11.3 per cent in April 2022 as compared to 4.7 per cent a year ago, RBI data showed on Tuesday.
Loans to agriculture and allied activities continued to grow at 10.6 per cent in April as against a rise of 10.7 per cent in the year-ago month, according to the RBI’s Sectoral Deployment of Bank Credit – April 2022.
Growth in advances to industry stood at 8.1 per cent in the month from a contraction of 0.4 per cent in April 2021.
Size-wise, credit to medium industries registered a growth of 53.5 per cent in April 2022 as against 44.8 per cent last year.
Credit to micro and small industries rose 29 per cent from 8.7 per cent, while credit to large industries recorded a growth of 1.6 per cent against a contraction of 3.6 per cent in April 2021, the data showed.
Within industry, growth in advances to all engineering, beverage and tobacco, chemicals and chemical products, food processing, gems and jewellery, infrastructure, leather and leather products, mining and quarrying, petroleum, coal products and nuclear fuels, rubber, plastic and their products and vehicles, vehicle parts and transport equipment segments accelerated in April 2022 as compared to the year-ago month.
However, credit growth to basic metal and metal products, cement and cement products, construction, glass and glassware, paper and paper products, textiles and wood and wood products decelerated.
Credit to the services sector increased 11.1 per cent in April 2022 as compared to 2.4 per cent a year ago, mainly due to NBFCs, trade, tourism, hotels and restaurants and transport operators.
Personal loans segment continued to perform well, registering a growth of 14.7 per cent from 12.1 per cent in April 2021, primarily driven by housing and vehicle loans.