The outstanding bank gross credit stood at 91.5 lakh crore as of 31 July 2020, registering a growth of 6.9 per cent from last year same period.
Food credit has shown a growth of 20 per cent in July on a Y-O-Y basis. The growth was 11.5 per cent in July 2019. The growth has accelerated to 53.2 per cent in July 2020 over March 2020.
Scheduled Commercial Banks (SCBs) accounted for 90 per cent of the non-food credit deployed in July 2020. Around 31 per cent of the non-food credit (Rs 90.7 lakh crore) was directed towards priority sectors.
Incremental outstanding credit has continued to fall across all segments except agriculture and allied activities. Outstanding credit grew by 5.4 per cent in agriculture and allied segment in July 2020.
Large industries accounted for 83.8 per cent share in the total outstanding credit to industries. Growth slowed to 1.4 per cent in July 2020 as compared with 7.2 per cent in July 2019. Despite the Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs, the segment has witnessed slow growth.
Of total 9 segments, 7 segments registered a growth. NBFCs registered highest growth of 24.6 per cent in July 2020 as compared with 34.5 per cent highest growth in July 2019. NBFCs continue to form the largest part in the total credit outstanding to the services sector.