Credit disbursement to industry grew by 19.5% in April 2012 as against 25.9% in the same month last year, as per data on sectoral deployment published by the Reserve Bank of India (RBI). Credit growth to the industrial sector was led by infrastructure, metals and metal products, engineering, food processing, gems and jewellery, vehicles, vehicle parts and transport equipment and mining and quarrying. It totaled up to Rs 19,56,070 crore for the month of April.
Credit disbursement to the agricultural sector grew by 14.6% as compared to 12% a year earlier. The total credit outstanding to the agricultural sector was Rs 5,18,620 crore over the month. For the services sector it increased by 15.8% in April 2012, significantly lower than 24.1% in April 2011.
Bank credit to the non-food sector surged by 16.5% against 22.1% recorded in the previous year. Credit to non-banking financial companies (NBFCs) grew by 36.2% in April 2012 as compared to 55.7% in the same month last year. Further, credit given out to the commercial real estate sector rose by 5.8%, down from 21.9% a year earlier and personal loans increased by 11.5% in April 2012 compared with 18.4% in April 2011.
DISCLAIMER: Accord Fintech provides the Content on “AS IS” basis without any express or implied warranties. Accord Fintech does not warrant the accuracy, timeliness, completeness, adequacy, merchantability, or fitness for a particular purpose of the Content, and Accord Fintech shall not be liable to Licensee or to any third party with respect to any actual or alleged inaccuracy, untimeliness, incompleteness, inadequacy, unmerchantbailty or unfitness.
Copyright 2012 Accord Fintech Pvt. Ltd., distributed by Contify.com
