Non-food bank credit registers growth of 8.0% in February 2022: RBI
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The Reserve Bank of India (RBI) in its latest report ‘Sectoral Deployment of Bank Credit - February 2022’ has showed that non-food bank credit registered a growth of 8.0 per cent in February 2022 as compared to 6.6 per cent a year ago. The report noted that credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 10.4 per cent in February 2022 as compared to 8.6 per cent in February 2021.
As per the report, credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 10.4 per cent in February 2022 as compared to 8.6 per cent in February 2021. Besides, credit growth to industry accelerated to 6.5 per cent in February 2022 from 1.0 per cent in February 2021.
The report also highlighted performance on the size-wise basis, where credit to medium industries registered high growth of 71.4 per cent in February 2022 as compared to 30.6 per cent last year. Credit growth to micro and small industries accelerated to 19.9 per cent from 3.1 per cent and credit to large industries recorded a marginal growth of 0.5 per cent against a contraction of 0.6 per cent during the same period.
RBI further said that credit growth to services sector stood at 5.6 per cent in February 2022 as compared to 8.8 per cent a year ago. Within services, credit growth to NBFCs improved significantly to 14.6 per cent in February 2022 from 7 per cent a year ago, while personal loans segment continued to expand at a robust rate and grew by 12.3 per cent in February 2022 from 9.6 per cent in February 2021, driven primarily by housing loans and vehicle loans.
