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Date : Sep 30, 2022
Sectoral Deployment of Bank Credit – August 2022

Data on sectoral deployment of bank credit for the month of August 20221 collected from 40 select scheduled commercial banks accounting for about 93 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

On a year-on-year (y-o-y) basis, non-food bank credit2 registered a growth of 16.0 per cent in August 2022 as compared with 6.7 per cent a year ago.

Highlights of the sectoral deployment of bank credit are given below:

  • Credit growth to agriculture and allied activities remained robust at 13.4 per cent in August 2022 (13.0 per cent a year ago).

  • Credit growth to industry accelerated to 11.4 per cent in August 2022 from 1.5 per cent in August 2021. Size-wise, credit to large industry grew by 6.4 per cent against a contraction of 2.6 per cent a year ago. Medium industries recorded credit growth of 35.6 per cent in August 2022 as compared with 52.3 per cent last year, while credit growth to micro and small industries accelerated to 28.2 per cent from 12.1 per cent during the same period.

  • Within industry, credit growth to ‘all engineering’, ‘basic metal & metal products’, ‘beverage & tobacco’, ‘cement & cement products’, ‘chemicals & chemical products’, ‘food processing’, ’glass & glassware’, ‘infrastructure’, ‘leather & leather products’, ‘petroleum, coal products and nuclear fuels’, ‘rubber, plastic & their products’, ‘vehicles, vehicle parts & transport equipment’, and ‘wood & wood products’ accelerated in August 2022 as compared with the corresponding month of the previous year. However, credit growth to ‘construction’, ‘gems & jewellery’, ‘mining and quarrying’, ‘paper & paper products’, and ‘textiles’ decelerated/contracted.

  • Credit growth to services sector accelerated to 17.2 per cent in August 2022 from 2.1 per cent a year ago, mainly due to improved credit offtake to ‘NBFCs’ and ‘trade’ sectors.

  • Personal loans growth improved to 19.5 per cent in August 2022 from 12.8 per cent a year ago, driven primarily by ‘housing’ and ‘vehicle loans’ segments.

Rupambara           
Director (Communications)

Press Release: 2022-2023/978


1 Data pertain to the last reporting Friday of the month.

2 Non-food credit data are based on Section-42 return for the last reporting Friday of the month, which covers all scheduled commercial banks (SCBs).


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