Personal loans growth accelerated to 20.4% y/y in January 2023 from 12.8% a year ago, largely driven by housing and vehicle loans, as per the RBI’s latest data.
On a y/y basis, non-food bank credit registered a growth of 16.7% in January 2023 as compared with 8.3% a year ago.
Credit growth to agriculture and allied activities improved to 14.4% in January 2023 from 10.4% a year ago.
Credit to industry registered a growth of 8.7% in January 2023 as compared with 5.9% in January 2022. Size-wise, credit to large industries grew by 6.5% as compared with 0.2% a year ago. Credit to micro and small industries registered a growth of 15.2% in January 2023, 23.3% a year ago.
Credit to services sector rose by 21.5% in January 2023 as compared with 5.7% a year ago, primarily due to the improved credit offtake to NBFCs.
