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Credit growth to industry improves to 6.4%
March 01, 2022
Non-Food bank credit registered a year-on-year growth of 8.3% in January 2022, much above the 5.9% level a year ago, with credit to industry witnessing a robust pickup, even as a credit to agriculture and allied activities and personal loans gained pace.
Credit growth to industry improved to 6.4% in January 2022 from 0.7% in January 2021, per Reserve Bank of India data on sectoral deployment of bank credit.
Within the industry, credit to medium industries registered high double digital growth of 74.7% in January 2022, compared to 21.8% last year.
Credit growth to micro and small industries accelerated to 19.7% from 0.5%.
Credit to large industries recorded a marginal growth of 0.5%, against a contraction of 0.2% during the same time.
The central bank said credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 10.4% in January 2022, compared to 8.5% in January 2021.
Personal loan section continued to increase at a robust rate and increased by 11.6% in January 2022 from 8.7% a year ago, it added.
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