Non-food credit records lowest growth in four years

Gross food credit recorded growth of 5% in Mar 2021 on Y-o-Y basis as compared to growth of 6.8% in March 2020.  

Food credit grew at the rate of 18.3% in March 2021 on Y-o-Y basis. It grew at the rate of 24% in March 2020.

Non-food credit growth recorded the lowest growth since last four years in March 2021 and grew by 4.9% y-o-y (compared with a growth of 6.5% in February 2021 and 6.7% in March 2021).

Large industries reported a growth of negative 0.8% in March 2021. Micro, small and medium (MSME) industries grew by 6.7% in March 2021.

Growth in services segment decelerated to 1.4% Y-o-Y in March 2021 as compared to 7.4% growth in March 2020.  

Growth rate of the retail/personal loans segment was higher by 0.6% in March 2021 as compared with the previous month. In absolute terms, credit outstanding has increased from Rs 25.5 lakh crore in March 2020 to Rs 28.1 lakh crore in March 2021.