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Bank credit to industry contracts in December

Credit to industry contracted by 4.3 per cent in December 2016 in contrast with an increase of 4.9 per cent in December 2015. Major sub-sectors which witnessed deceleration/contraction in credit include food processing, infrastructure, chemical and chemical products, all engineering, textiles and basic metal and metal products.

Avneet Kaur   New Delhi     Last Updated: February 3, 2017  | 13:22 IST
Bank credit to industry contracts in December

Gross bank credit (including food and non-food credit) deployed by the banks rose 3.30 per cent year-on-year (y-o-y) for the month of December 2016 as against 9.16 per cent y-o-y growth last year. It stood at Rs 66.49 lakh crores as on December 23, 2016. The data pertains to 46 commercial banks who account for 95 per cent of the total non-food credit deployed by all scheduled commercial banks.

Credit to industry contracted by 4.3 per cent in December 2016 in contrast with an increase of 4.9 per cent in December 2015. Major sub-sectors which witnessed deceleration/contraction in credit include food processing, infrastructure, chemical and chemical products, all engineering, textiles and basic metal and metal products

Some of the other highlights of the sectoral deployment of bank credit:

  •     On a y-o-y basis, non-food bank credit increased by 4.0 per cent in December 2016 as compared with an increase of 9.3 per cent in December 2015.
  •     Credit to agriculture and allied activities increased by 8.2 per cent in December 2016 as compared with an increase of 12.7 per cent in December 2015.
  •     Credit to industry contracted by 4.3 per cent in December 2016 in contrast with an increase of 4.9 per cent in December 2015. Major sub-sectors which witnessed deceleration/contraction in credit include food processing, infrastructure, chemical and chemical products, all engineering, textiles and basic metal and metal products.
  •     Credit to the services sector increased by 8.3 per cent in December 2016 as compared with an increase of 8.1 per cent in December 2015.
  •     Personal loans increased by 13.5 per cent in December 2016 as compared with an increase of 18.5 per cent in December 2015.

 


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