Bank credit growth slows to 5.8% in September 2020
Bank credit growth slows to 5.8% in September 2020
BusinessToday.In
- Nov 1, 2020,
- Updated Nov 2, 2020 8:51 AM IST
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On a year-on-year (y-o-y) basis, non-food bank credit growth decelerated to 5.8 per cent in September 2020 from 8.1 per cent in September 2019.
Story: Niti Kiran
Design: Pragati Srivastava
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Credit to agriculture and allied activities increased by 5.9 per cent in September 2020 as compared with a growth of 7.0 per cent in September 2019
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Credit to industry recorded 'nil' growth in September 2020 as compared with 2.7 per cent growth in September 2019.
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Bucking the trend, credit growth to the services sector accelerated to 9.1 per cent in September 2020 from 7.3 per cent in September 2019.
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Personal loans registered a growth of 9.2 per cent in September 2020 as compared with 16.6 per cent growth in September 2019.