Overview
- Overall bank credit growth slowed to 9.8% in the fortnight to May 16, down from 19.5% in the same period last year.
- Industry lending eased to 6.7% in the fortnight to April 18 compared with 6.9% a year earlier, with infrastructure credit lagging despite stronger borrowing in metals, engineering and textiles.
- Non-food credit growth dipped to 11.2% from 15.3% a year ago, driven by a fall in agricultural loans to 9.2% and services credit deceleration to 11.2% as NBFC borrowing waned.
- Personal loan growth moderated to 14.5% year-on-year as vehicle and other personal loans slowed and credit card outstanding rose 10.6% versus 23%.
- Gold loans bucked the slowdown, jumping 119.6% to Rs 2.23 lakh crore, based on RBI data from 41 banks covering about 95% of non-food credit.