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Since April this year, when loans under this category had increased by over 18% year-on-year basis, the increase has been smaller with each passing month. Loans to non-banking finance companies too have seen some moderation at 39.2% year-on-year in November, compared with 41.5% y-o-y in October.
Loans disbursed to industries and commercial real estate (CRE) has seen a fall in month-on-month basis. Bank credit to industries declined to 20.9% y-o-y in November from 23.1% y-o-y in October, while lending to the CRE in November was at 10.6%, compared with 12.8% in October, shows the data released RBI on Friday.
Non-food credit grew at just 16.8% y-o-y in November, lower than 18.2% growth posted in the previous month. Data shows that credit growth to the agriculture sector improved moderately 7.3% y-o-y in November from 7.1%y-o-y in the previous month. However, the credit deployment to services, grew at 16.9% in November as compared with 18.2% in the previous month.
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