AFTER INCREASING BY RS 18.2 LAKH CRORE TO AN ALL-TIME HIGH IN FY23, NON-FOOD CREDIT CONTINUED TO EXPAND IN THE FIRST QUARTER OF FY24, THANKS TO DEMAND FROM THE SERVICES SECTOR. HERE’S WHAT THE DATA INDICATES
Trucks parked near Navi Mumbai’s APMC market. Transport is a key component of the services sector. (Photo: Mandar Deodhar)
Rs 136.55 Lakh Crore: Total non-food credit in FY23, up 15 per cent over a year and 164 per cent in the past decade
Rs 7.1 Lakh Crore: Rise in non-food credit in the June 2023 quarter, of which the services sector contributed 39 per cent (Rs 2.8 lakh crore)
30 %: The share of personal loans in total non-food credit in FY23; followed by the services sector (27 per cent)
AFTER INCREASING BY RS 18.2 LAKH CRORE TO AN ALL-TIME HIGH IN FY23, NON-FOOD CREDIT CONTINUED TO EXPAND IN THE FIRST QUARTER OF FY24, THANKS TO DEMAND FROM THE SERVICES SECTOR. HERE’S WHAT THE DATA INDICATES