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Non-food bank credit grows at 6.9% in Oct: RBI data


Non-food credit growth of banks accelerated to 6.9 % in October as against 5.2 % in the same month of last year, the RBI data showed. Loans to agriculture and allied activities continued to perform well, registering an accelerated growth of 10.2 % in October 2021 as compared to 7.2 % in October 2020, according to the RBI’s Sectoral Deployment of Bank Credit – October 2021 data, released on Tuesday.

The growth in credit to industry picked up to 4.1 % in October 2021 from a contraction of 0.7 % in October 2020.

Size-wise, credit to medium industries registered a robust growth of 48.6 % in October 2021 as compared to 20.8 % last year.

Advances to micro and small industries accelerated to 11.9 % in October 2021 from 0.7 % a year ago. Credit growth to large industries stood at 0.5 % in October 2021 as compared to a contraction of 1.8 % a year ago, the data showed.

Slowdown in credit growth of services continued, as it decelerated to 2.9 % in October from 8.6 % a year ago.

Personal loans continued to grow at a robust rate of 11.7 % in October 2021 vis-a-vis 8.7 % in October 2020 primarily due to housing, vehicle loans and loans against gold jewellery, the data showed.



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