MONETARY POLICY

Monetary policy refers to the use of monetary instruments under the control of the central bank to regulate magnitudes such as interest rates, money supply and availability of credit with a view to achieving the ultimate objective of economic policy.


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Date : May 29, 2020
Sectoral Deployment of Bank Credit – April 2020

Data on sectoral deployment of bank credit collected from select 33 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of April 2020 are set out in Statements I and II.

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

  • On a year-on-year (y-o-y) basis, non-food bank credit growth decelerated to 7.3 per cent in April 2020 from 11.9 per cent in April 2019.

  • Credit growth to agriculture & allied activities decelerated to 3.9 per cent in April 2020 from 7.9 per cent in April 2019.

  • Credit growth to industry decelerated to 1.7 per cent in April 2020 from 6.9 per cent in April 2019. Within industry, credit growth to ‘beverage & tobacco’, ‘petroleum, coal products & nuclear fuels’, ‘paper & paper products’ and ‘rubber, plastic & their products’ accelerated. However, credit growth to ‘mining & quarrying’, ‘chemicals & chemical products’, ‘construction’, ‘textiles’, ‘all engineering’ and ‘basic metal & metal products’ decelerated/contracted.

  • Credit growth to the services sector decelerated to 11.2 per cent in April 2020 from 16.8 per cent in April 2019.

  • Personal loans growth decelerated to 12.1 per cent in April 2020 from 15.7 per cent in April 2019.

Ajit Prasad
Director   

Press Release: 2019-2020/2424


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