The overall bank credit growth in October 2020 continued to decelerate to 5.6%. The services, retail and agriculture & allied segment registered a growth of 9.5%, 9.3% and 7.4%, respectively, during the month.
Food credit saw a de-growth of 4.5% in October 2020 as compared to October 2019.
Around 32% of non-food credit (Rs 91.4 lakh crore) was towards priority sector. Within priority sector, agriculture accounted for 41% followed by micro and small enterprises (38%).
In non-food credit, Agriculture grew by 7.4 % in October 2020 on yearly basis and 5.3 % as compared to March 2020.
Incremental outstanding credit continued to decline for industry and services segment in October. Industry segment witnessed a de-growth of 5.7% over March 2020. Share of industry in total outstanding credit continues to be highest at 30% in October 2020 but has fallen as compared to 32.2% in October 2019.
Of total 9 segments, 8 segments registered growth. Trade segment registered highest growth of 14% (5.2% in October 2019), followed by Tourism, Hotels & Restaurant with a growth of 12% in October 2020 (13% in October 2019). NBFCs continue to form the largest part in the total credit outstanding to services sector at 30.2% (30.3% share in October 2019) followed by trade (22.4%) and commercial real estate (8.8%).
Growth in retail/personal loans segment decelerated to 9.3% as compared with 17.2% a year ago.
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