bank lending: July 2022 Bank Lending Data Release: Here’s a Summary of Changing Credit Trends

Banks’ non-food credit rose 15.1% in July from 5.1% a year ago, according to data released by the Reserve Bank of India (RBI).

The dataset, Bank Credit Sector Rollout for July 2022, was released by RBI on Tuesday.

Lending to agriculture and related activities rose 13.2% in July 2022 from 11.1% a year ago, it said.

Credit to industry increased by 10.5% in July 2022, compared to 0.4% in the same month a year earlier.

By industry size, loans to large industry increased by 5.2%. In the comparable period a year ago, there was a contraction of 3.8%.

Credit to medium industries increased by 36.8% in July 2022 against 59% the previous year, while the growth of loans to micro and small industries accelerated to 28.3% against 10.5% year-on-year annual.

Within industry, growth in lending to all of engineering, base metals and metal products, cement and cement products, chemicals and chemicals, food processing, infrastructure, leather and leather products, mining and quarrying, rubber, plastic and its products, vehicles, vehicle spare parts and transport equipment and wood and wood products accelerated in July 2022 compared to the corresponding month of the previous year.

However, growth in advances in beverages and tobacco, construction, gems and jewelry, glass and glassware, paper and paper products, petroleum, coal products and nuclear fuels and textiles contracted, according to the data.

Credit growth to the services sector improved to 16.5% in July 2022, from 3.8% a year ago, mainly due to improved credit extended to non-bank financial companies and operators transport, he showed.

Growth in the personal loan sector was robust at 18.8% in July 2022 from 11.9% in July 2021, supported by the home and auto loan segments.

TNP data

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