MUMBAI : Lending from non-food banks rose 5.7% in April 2021 from 6.7% in the same month last year, RBI data showed.
The growth in advances in agriculture and related activities accelerated to 11.3% in April 2021, compared to a 4.7% growth in April 2020, according to sectoral data released Monday by the Reserve Bank of India Provision of bank loans – April 2021 showed.
Industry credit growth slowed from 1.7% in April 2020 to 0.4% in April 2021.
However, lending to medium-sized industries saw robust growth of 43.8% in April 2021, down from a 6.4% decline a year ago, the data showed.
The growth of lending to micro and small industries accelerated to 3.8% in April this year from a decrease of 2.2% a year ago, while lending to large industries accelerated by 1.9% from a growth of 2.7%. shrank a year ago.
Within the industry credit for food processing; Textiles; Precious stones and jewelry; Paper and paper products; Glass and glassware; Infrastructure; Leather and leather goods; and Wood and Wood Products saw accelerated growth in April 2021 compared to the corresponding month of the previous year, RBI data showed.
Credit growth for mining and quarries; Beverages and tobacco; Petroleum, coal products and nuclear fuel; Rubber, plastic and their products; Vehicles; Vehicle parts and means of transport; Base metal and metal products; Cement and cement products; all technical, chemical and chemical products; and construction slowed down.
The growth in lending to the service sector slowed from 10.6% in April 2020 to 1.2% in April 2021, mainly due to the slowdown in lending growth for NBFC and the small decrease in lending to transportation companies.
However, the Lending to Retail segment continued to perform well and recorded accelerated growth of 10.5% in April 2021, compared to 8.7% in the previous year.
The data showed that personal lending saw accelerated growth of 12.6% in April 2021 from 12.3% a year earlier, largely due to accelerated growth in vehicle loans, loans for gold jewelry and outstanding credit cards.
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