Reserve Bank of India – Press Releases

Data on sectoral deployment of financial institution credit score for the month of September 2022¹ collected from 40 choose scheduled industrial banks, accounting for about 93 per cent of the whole non-meals credit score deployed by all scheduled industrial banks, are set out in Statements I and II.

On a yr-on-yr (y-o-y) foundation, non-meals financial institution credit score² registered a progress of 16.9 per cent in September 2022 as in contrast with 6.8 per cent a yr in the past.

Highlights of the sectoral deployment of financial institution credit score are given under:

• Credit to agriculture and allied actions continued to carry out nicely, registering an accelerated progress of 13.4 per cent (y-o-y) in September 2022 as in contrast with 10.6 per cent in September 2021.

• Credit to trade rose by 12.6 per cent in September 2022 as in contrast with 1.7 per cent in September 2021. Size-wise, credit score to massive trade accelerated to 7.9 per cent towards a contraction of 2.1 per cent a yr in the past. Medium industries recorded credit score progress of 36.2 per cent in September 2022 as in contrast with 37.1 per cent final yr, whereas credit score to micro and small industries rose by 27.1 per cent (13.1 per cent a yr in the past).

• Within trade, credit score progress to ‘all engineering’, ‘basic metal & metal products’, ‘beverage & tobacco’, ‘cement & cement products’, ‘chemicals & chemical products’, ‘construction’, ‘food processing’, ’glass & glassware’, ‘infrastructure’, ‘leather & leather products’, ‘petroleum, coal products & nuclear fuels’, ‘rubber, plastic & their products’, ‘vehicles, vehicle parts & transport equipment’, and ‘wood & wood products’ accelerated in September 2022 as in contrast with the corresponding month of the earlier yr. However, credit score progress to ‘gems & jewellery’, ‘mining and quarrying’, ‘paper & paper products’ and ‘textiles’ decelerated.

• Credit progress to companies sector accelerated to twenty.0 per cent in September 2022 from 1.2 per cent a yr in the past, primarily pushed by improved credit score offtake to ‘NBFCs’ and ‘trade’ sectors.

• Personal loans phase grew by 19.6 per cent in September 2022 (13.2 per cent a yr in the past), largely pushed by ‘housing’ and ‘vehicle loans’ segments.

Rupambara           
Director (Communications)

Press Release: 2022-2023/1117