Agriculture

Credit to agriculture hikes 18 3 in Dec RBI

Credit to agriculture and allied activities increased by 18 3 percent in December 2014 up from 11 5 percent in December 2013 RBI says
Credit to agriculture hikes 18 3 in Dec RBI

On a year-on-year (y-o-y) basis, non-food bank credit increased by 9.8 percent in December 2014 as compared with an increase of 14.8 percent in December 2013.

Credit to agriculture and allied activities increased by 18.3 percent in December 2014, up from 11.5 percent in December 2013.

Credit to industry increased by 6.8 percent in December 2014 as compared with an increase of 14.1 percent in December 2013. Deceleration in credit growth to industry was observed in all major sub-sectors, barring construction, beverages & tobacco, gems & jewellery and mining & quarrying.

Credit to the services sector increased by 6.9 percent in December 2014 as compared with an increase of 17.4 percent in December 2013, with deceleration observed in all major sub-sectors, barring commercial real estate.

Credit to NBFCs increased by 3.3 percent in December 2014 as compared with an increase of 15.1 percent in December 2013. Personal loans increased by 15.1 percent in December 2014 as compared with increase of 15.8 percent in December 2013.

Data on sectoral deployment of bank credit collected on a monthly basis from select 47 scheduled commercial banks, accounting for about 95 percent of the total non-food credit deployed by all scheduled commercial banks, for the month of December 2014 are set out in Statements I and II.

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